The European currency that gapped higher against the yen in the early Asian session touched a 4-day high of 124.68 around 1:50 am ET. However, the pair erased some of its gains shortly thereafter, falling to 124.24 around 2:20 am ET.
If the euro-yen pair extends rally from a correction below 122.30, it will target resistance around the 125.30 level. The possibility of extending its recent retreat from 124.68, it may fill up the gap created in the Asian session, with a 123.25/30 seen as the next likely support.
