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EUR/JPY stuck within range, near 134.40

FXStreet (Edinburgh) - The sideline pattern in both the Japanese yen and the single currency are prompting EUR/JPY to consolidate within the daily range around 134.40.

EUR/JPY unmoved by data

The cross has paid little attention to the generalized auspicious results from the German IFO indicator for the current month, while the return of the activity to the Japanese markets after 3-day holidays has passed largely unnoticed by market participants.

There are no further data releases in Euroland today, although critical Japanese inflation figures are due at the very beginning of the Asian session tomorrow. Market consensus sees the National CPI ex-Fresh Food contracting at an annual pace of 0.1% during August.

EUR/JPY levels to consider

The cross is now losing 0.09% at 134.41 with the next support at 134.00 (low Sep.24) followed by 133.16 (low Sep.23) and then 132.23 (low Sep.4). On the other hand, a breakout of 134.69 (high Sep.24) would expose 134.92 (high Sep.22) and finally 136.14 (high Sep.21).

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