The Eurozone single currency declined by 53 basis points or 0.42% against the Japanese Yen on Wednesday. The currency pair breached the lower boundary of an ascending channel pattern.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for bearish traders would be at the 125.00 level.
However, a support level at 125.40 could provide support for the EUR/JPY currency exchange rate in the shorter term.
