EUR/JPY Price Analysis: Extra rangebound looks likely near-term

• EUR/JPY keeps the recent range unchanged so far.
• Further pullbacks are on the table while below the 200-day SMA.

The selling pressure around the European currency coupled with JPY-weakness is leaving the consolidative scenario around EUR/JPY unchanged for the time being.

In the meantime, the broad range theme is expected to persist in the near-term between 120.00 (200-day SMA) and the vicinity of 116.00 (YTD lows).

Above the 200-day SMA, today at 120.07, the downside pressure is expected to alleviate somewhat.

EUR/JPY daily chart