FXstreet.com (London) - Japanese Yen continues consolidating in the same range it traded through most of Fridays session versus the Euro. EUR/JPY currently trades at 129.61/2. This level also forms the approximately neutral trend the pair has traded in during the last session and the first hours of this session.
As investors continue closing down positions as we head to year end, thin trading can make sharp price moves less common. However lack of flow means wider spreads can often exacerbate price moves.
Strong indications of a new trend will come when first resistance is broken at 130.00 or first support is broken at 129.15. The pair has traded in between these two levels during the first two hours of Asian trade.