The Eurozone single currency declined by 38 basis points or 0.33% against the Japanese Yen on Monday. The currency pair was pressured by the 100– hour simple moving average during Monday’s trading session.
All things being equal, the exchange rate will most likely continue to edge lower. The potential target for the EUR/JPY pair would be at the weekly support level at 115.48.
An upward reversal could occur from the weekly S1 at 115.48 within the following trading session.
