EUR/JPY Analysis: Likely to maintain trading range

EUR/JPY

The single European currency declined by 177 basis points or 1.48% in value against the Japanese Yen on Thursday. The currency pair has been trading between the range of 119.20/117.06 since the beginning of this week’s trading sessions.

The exchange rate will most likely continue to trade within the given range until the end of today’s trading session. The EUR/JPY pair could target the 117.06 regions today.

On the other hand, the currency exchange rate could reverse from the current price level at 118.34 and make a slight upward movement during the following trading session.

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