Asume that interest rate parity holds so that future or forward exchange rates

Asume that interest rate parity holds so that future or forward exchange rates adjust to eliminate investor arbitrage proofits. If interest rates in Europe are
higher than the corresponding interest rates in japan would you expect an appreciating Euro or a depreciating Euro in the futures (forward) market relative to
the current spot market rate? in terms of the supply and demand for Euros in the spot and forward currency markets what is implicitly occuring in each as a
result of interest rate parity? Is the Euro selling at a premium or at a discount relative to the Yen?