EUR/JPY trades within a tight range, still in sub -121.00 levels. EUR weakness keeps limiting the upside potential in the cross. BoJ meeting (Tuesday), FOMC event (Wednesday) in the limelight. EUR/JPY is navigating a tight 20-pip range at the beginning of the week, always below the 121.00 handle and with gains capped near the 200-hour SMA in the 120.90 region. EUR/JPY looks to central banks, data After clinching weekly tops near 121.40 in the wake of the ECB meeting last Thursday, the cross came under selling pressure although the decline faltered near 120.70, or daily lows. The selling mood around the Japanese currency keeps limiting the downside vs. a steady/bearish view in EUR, as market participants remain reluctant to take positions in the shared currency in light of the almost certain announcement of accommodative measures by the ECB in the next weeks. Moving forward, the BoJ meeting is unlikely to be a market mover tomorrow, while all the attention will be on the FOMC event on Wednesday as well as on the publication of the advanced CPI and Q2 GDP figures in Euroland. EUR/JPY relevant levels At the moment the cross is receding 0.08% at 120.82 and a breakdown of 120.75 (low Jul.29) would aim for 120.05 (low Jul.25) and then 118.82 (2019 low Jan.3). On the upside, the initial hurdle aligns at 121.37 (high Jul.25) followed by 121.40 (21-day SMA) and finally 122.32 (high Jul.10). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD hammered down to 1.2300 neighborhood, lowest since March 2017 FX Street 4 years EUR/JPY trades within a tight range, still in sub -121.00 levels. EUR weakness keeps limiting the upside potential in the cross. BoJ meeting (Tuesday), FOMC event (Wednesday) in the limelight. EUR/JPY is navigating a tight 20-pip range at the beginning of the week, always below the 121.00 handle and with gains capped near the 200-hour SMA in the 120.90 region. EUR/JPY looks to central banks, data After clinching weekly tops near 121.40 in the wake of the ECB meeting last Thursday, the cross came under selling pressure although the decline faltered near 120.70, or daily lows. The selling mood around… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.