EUR/JPY Price Analysis: Decent contention emerges around 141.00

• EUR/JPY looks consolidative above the 141.00 mark.
• Extra side-lined trading looks likely in the short term.

EUR/JPY trades without a clear direction and appears somewhat stabilized following the recent multi-session retracement.

Further range bound seems on the cards for the time being, always above the current contention area around 141.00. The breach of this region could open the door to a deeper pullback to the 139.84/55 band, where the 100- and 55-day SMAs coincide.

In the meantime, while above the key 200-day SMA at 136.25, the constructive outlook for the cross should remain unchanged.

EUR/JPY daily chart