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Forex: EUR/JPY settles around 125.50

As most crosses in the FX market, EUR/JPY entered a sideways phase during the American session amid light volume due to the US holiday.

EUR/JPY rose to a daily high of 125.86 during the European trade amid yen weakness but lacked momentum to extend gains and pulled back to settle in a slim range for the rest of the day. At time of writing, EUR/JPY is trading around 125.40, up 0.3% on the day.

In terms of technical levels, Slobodan Drvenica, analyst at Windsor Brokers Ltd, sees next resistances at 125.88, 126.00 and 126.54, while he places supports at 125.10, 124.38 and 124.00.

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