EUR/JPY Price Analysis: Bearish stance remains well in place

• EUR/JPY stays offered below the 116.00 mark on Friday.
• Immediately to the downside aligns the yearly lows in the mid-114.00s.

EUR/JPY is now attempting to consolidate in the sub-116.00 region following the rejection from weekly tops near 117.00 the figure earlier in the week.

While trading below the short-term resistance line in the mid-116.00s, another visit to the YTD lows in the 114.50 area should not be ruled out

On the broader picture, a more serious bullish attempt should clear the May’s top in the 117.75/80 band. This area of resistance is also reinforced by the 55-day SMA, today at 117.65.

EUR/JPY daily chart