During the first half of yesterday’s trading session, the common European currency surged by 98 pips or 0.76% against the Japanese Yen. However, the currency pair erased the earlier gains by the end of the session.
The exchange rate is likely to continue to edge lower during the following trading session. The potential target for bearish traders will be near the 200– hour simple moving average at 128.16.
Although, the EUR/JPY currency exchange rate could reverse from a support cluster at 129.01 today.
