The quotations on the daily chart of the EUR/JPY pair look interesting. We are dealing with a growth channel and a positive pattern of dips and peaks. However, the recent upward momentum looks very weak and the price seems to be turning back towards the bottom edge and the key support zone of around 119.50. As for the fundamentals, it seems that Yen is gaining on the increase in global risk due to the lack of concrete details in US-China trade talks, despite still good announcements and willingness to sign an agreement.
However, time is running out and already in mid-December the USA may impose further duties. This should push the course for key support, where the next rebound could take place. Much will depend on the reports from the trade war , although in the short term it seems that the pair will head to mentioned support.
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