Forex News

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.