EURJPY Chart Technical Outlook trades sideways, with bulls ready to capture 158.50
EUR/JPY broad bias is bullish, but the pair consolidates after two dovish central banks meetings, ECB and BOJ.
The recent risk-off sentiment limits the bullish momentum.
Today’s PMI data was bad for France and good for Germany. Waiting for the Euro Area print.
I expect sideways price action until risk sentiment stabilizes and prices go higher.
It has room to 158.50 and then 159.30
Supports are at 157.30 and 156.60