Yup, you can remove curses by eating enchanted apples or via the chiv spell "Remove curse".
But it doesn't affect skills, only stats. Is magery the only skill affected? There are a couple of things I can think of that that will reduce skills -
1) mage weapon (this only affects magery)
2) faction stat loss (only if you are in factions)
3) getting discorded by satyrs (this wears out after around 10 secs as long as you move out of the satyrs' line of sight)
4) bug with equipping +magery skill jewelry that involves a vendor (this was fixed recently, but your char may be still affected, call gm if you remember messing around with a vendor)
Other less likely possibilities:
5) if you have not played this char for a very long time, do you remember if you have 120 real skill, or were you using items to boost your magery to 120?
6) any chance you toggled between looking at real skill instead of displayed skill on the skills gump?