EUR/JPY Snared at 129.00 following mid-week recovery

• EUR/JPY continues to grind it out in the middle of consolidation.
• Swings in general market sentiment continue to lead the broader markets nowhere.

EUR/JPY is bumping into the 129.00 major level ahead of Thursday's European markets, and holding towards the upper bound of recent consolidation.

The Euro-Yen pairing has found itself squeezed into the middle for the better part of two months, cycling between 130.00 and 127.00 as the EUR keeps finding reasons to be bid up, but not enough to spark a meaningful bullish recovery. Risk-off runs continue to see markets pile into the safe-haven Yen at regular intervals on the other side of the coin, and as the major G20 marketspace struggles to decide whether or not its confident, or afraid of trade wars and slowing growth.

On the EUR's docket for Thursday will be Germany's CPI data dump, due early at 07:00 GMT and the broad array of figures are expected to hold steady at their previous readings, and the key focus will be annualized CPI for November, forecast at 2.3%.

EUR/JPY Technical Levels