EUR/JPY Price Analysis: Further consolidation in the pipeline

• EUR/JPY alternates gains with losses around 140.50 midweek.
• The 143.00 region remains a tough near-term resistance zone.

EUR/JPY navigates within a narrow range in the mid-140.00s following Tuesday’s sharp sell-off.

While the cross is expected to maintain the side-lined theme in the short term, the 143.00 area remains a solid barrier for bulls. This key resistance zone also appears reinforced by the 100-day SMA, today at 142.89

If the cross breaches the 200-day SMA at 141.00 on a sustainable fashion, the outlook is expected to shift to bearish.

EUR/JPY daily chart