EUR/JPY Price Analysis: Further consolidation in the pipeline
|- EUR/JPY alternates gains with losses around 140.50 midweek.
- The 143.00 region remains a tough near-term resistance zone.
EUR/JPY navigates within a narrow range in the mid-140.00s following Tuesday’s sharp sell-off.
While the cross is expected to maintain the side-lined theme in the short term, the 143.00 area remains a solid barrier for bulls. This key resistance zone also appears reinforced by the 100-day SMA, today at 142.89
If the cross breaches the 200-day SMA at 141.00 on a sustainable fashion, the outlook is expected to shift to bearish.
EUR/JPY daily chart
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