Downside risks dominated the common European currency against the Japanese Yen on Wednesday. The currency pair fell by 86 pips or 0.65% during yesterday’s trading session.
All things being equal, the exchange rate could continue to trend bearish during the following trading session. The potential target for the EUR/JPY pair will be near the 132.00 level.
However, the weekly support line at 132.65 could provide support for the currency exchange rate in the shorter term.
