The Eurozone single currency declined by 147 pips or 1.21% in value against the Japanese Yen. The decline was stopped by a support cluster formed by the weekly and the monthly PPs at 119.64.
If the support cluster, as mentioned above holds, a surge towards the 121.00 zones could be expected within this session.
However, if the EUR/JPY exchange rate breaks the support lines, bearish traders could drive the price lower today.
Furthermore, technical indicators suggest a downside momentum within the following trading session.
EUR/JPY LONG (Buy)