The common European currency traded sideways against the Japanese Yen on Wednesday. The weekly S3 at 123.13 provided support for the pair during yesterday’s trading session.
The exchange rate broke the support level during the first part of Thursday’s trading session.
Everything being equal, it is likely that the EUR/JPY currency pair will continue to edge lower today.
The potential downside targets for bearish traders will be near the monthly S3 at 121.09 mark.
