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  • EUR/JPY extends the choppy activity so far this week.
  • A drop to the 125.00 neighbourhood is not ruled out.

EUR/JPY keeps the erratic performance well and sound so far this week.

The rejection from weekly highs in the 126.20 area (Tuesday/Wednesday) triggered some choppy trading so far. However, another visit to recent lows in the proximity of 125.00 remains on the cards should the sentiment deteriorate further in the short-term horizon.

Looking at the broader picture, while above the 200-day SMA at 122.84 the outlook for the cross should remain constructive.

EUR/JPY daily chart