EUR/JPY Technical Analysis: Further rangebound looks likely near term
|- EUR/JPY is prolonging the sideline theme in the upper-120.00s always on the back of the persistent selling mood surrounding both the Japanese yen and the single currency.
- The cross needs to break above the mid-121.00s to allow a visit to the 122.00 neighbourhood, where is located the critical 200-day SMA.
- On the other hand, the 120.00 area is expected to hold occasional pullbacks. This area of contention is reinforced by the 100-day SMA at 119.62.
EUR/JPY daily chart
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