EUR/JPY Price Analysis: Extra rangebound on the cards

• EUR/JPY has moved into a consolidation theme for the time being.
• The 125.00 area continues to cap the upside near-term.

EUR/JPY extends the rangebound trading following Monday’s strong gains to the area just above 125.00 the figure.

In the meantime, October lows in the 121.60 zone looks to hold potential bearish moves, while monthly peaks in the 125.00 neighbourhood are seen limiting occasional bullish attempts for the time being.

Further out, while above the key 200-day SMA at 121.24, EUR/JPY is expected to keep the positive bias unchanged.

EUR/JPY daily chart