The EUR/JPY pair is kicking off the week on a subdued activity note. Into the European open prices have dipped as low as 140.34 almost testing last Friday’s lows set at 140.30. Subsequent recovery to 141 ensued as German IFO survey came out a touch better than expected. The rally was short-lived with prices dropping just above 140.50 concluding a very tight range of trading for this particular binary options forex pair. In order to proceed further with a position we would need to see either a test of the topside resistance at 141.25-30 or a drop to probe recent lows – we would be buying puts on a sustained hourly break below 140.30-40 area that is currently outlined on our chart. Stay tuned to the comments section below to get more information.