EUR/JPY Price Analysis: Further consolidation in store

• EUR/JPY remains side-lined around the 137.00 region.
• Price action in the cross keeps pointing to extra consolidation.

EUR/JPY remains stuck within a consolidative pattern around the 137.00 zone so far on Thursday.

Further side-lined trading seems the name of the game for the cross in the short-term horizon. The breakout of this theme should meet the next barrier of note at the 2022 high around 140.00 (April 21) ahead of the June 2015 high at 141.05.

In the meantime, while above the 200-day SMA at 130.83, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart