EUR/JPY Technical Analysis: Bulls remain unable to break above the sideline trading

• EUR/JPY is fading gains recorded in the last couple of sessions and it has returned to the mid-117.00s, well within the multi-session rangebound theme.
• Occasional bullish attempts should meet initial hurdle at the 21-day SMA at 118.21 ahead of recent lows in the 118.50 area.
• The inability to regain serious upside traction and the persistent uncertainty around the US-China trade war and its effects on the safe havens keeps the cross under almost permanent pressure. Against this, another visit to 2019 lows in the 116.50 zone should remain well on the cards for the time being.

EUR/JPY daily chart