The Eurozone single currency appreciated about 50 basis points against the Japanese Yen on Wednesday.
The currency pair is currently trading near the upper boundary of a descending channel pattern at 120.19.
The EUR/JPY will most likely dash through the border of the descending channel pattern within this session.
However, if the channel pattern holds, a decline towards the monthly pivot point at 119.67 could be expected during the following trading session.
