During the first half of Monday’s trading session, the common European currency surged by 56 basis points or 0.44% against the Japanese Yen. However, the currency pair lost the gains at the end of the day.
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 125.80 area.
Though, bears are likely to encounter a support line at the 126.00 level during the following trading session.
