Some respite emerged near 153.00

• EUR/JPY manages to gather some upside traction on Thursday.
• Initial contention seems to have turned up near around 153.30.

EUR/JPY partially reverses the recent 7-session negative streak on Thursday.

The cross regains some balance and manages to bounce off Wednesday’s 4-week lows near 153.30. In case sellers return to the market, the cross risks a probable decline to the intermediary 55-day SMA, today at 151.91.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 145.81.

EUR/JPY daily chart