• EUR/JPY has been trading in a narrow range between 114 and 112.30 since 3rd Aug.
   
• On the day EUR/JPY extends narrow range trade, the single currency showed muted reaction to the negative German PPI data released earlier.
   
• The pair finds major trendline support at 112.50, weakness only on break below.
   
• On the upside 20-DMA at 113.85 is immediate resistance ahead of 114.85 (falling trendline).
   
• Momentum studies on daily charts are neutral, Stochs are biased higher. 
   
• Break below 112.50 will see test of 111 levels, while break above 114 could find next resistance at 115.