EUR/JPY Price Analysis: Decent contention remains around 134.40
|- EUR/JPY extends the choppy trading on Thursday.
- The 134.40 region keeps supporting the downside.
EUR/JPY trades on a volatile fashion in the lower bound of the weekly range so far on Thursday.
Further consolidation remains likely in the very near term, while the underlying upside momentum in the cross should be unchanged. EUR/JPY therefore, is expected to keep the range bound theme for the time being before further gains to, initially, the 2022 high at 137.54 (March 28) ahead of a probable visit to the August 2015 peak at 138.99 (August 15) and prior to the round level at 140.00.
In the meantime, while above the 200-day SMA at 130.15, the outlook for the cross is expected to remain constructive.
EUR/JPY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.