The Eurozone single currency declined by 87 points or 0.73% against the Japanese Yen during Thursday’s trading session.
All things being equal, the EUR/JPY exchange rate could continue to edge lower until it reaches a support line formed by the weekly S1 at 119.37.
If the support level holds, buyers are likely to take control of the market within this session.
However, if the currency exchange rate breaks the weekly S1, bearish traders could continue to pressure the price lower today.
