During the first half of Thursday’s trading session, the common European currency surged by 82 basis points or 0.67% against the Japanese Yen. However, the currency pair lost the earlier gains at the end of the day.
Most likely, the exchange rate could continue to edge lower during the following trading session. The possible target for the EUR/JPY pair would be near the 121.80 level.
However, the lower border of an uptrend line could provide support for the currency exchange rate in the shorter term.
