FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURUSD and AUDUSD) for the day)
FxWirePro: EUR/JPY extends bounce off daily cloud, single currency ignores poor euro area sentiment data
Chart - Courtesy Trading View
EUR/JPY was trading 0.20% higher on the day at 140.55 at around 12:30 GMT.
The pair is extending bounce off daily cloud and 110-EMA support, bias is turning bullish.
Data published by the European Commission showed on Thursday that euro area Economic Sentiment Indicator (ESI) declined to 93.7 in September from 97.3 in August, missing market expectation of 95.
Details of the report showed Industrial Confidence Index fell to -0.4 from 1 and the Services Sentiment Index edged lower to 4.9 from 8.1.
Further, Consumer Confidence Index for the euro area arrived at -28.8, a new all-time low, matching the flash estimate.
GMMA indicator shows major trend is neutral, while minor trend is turning bullish.
The pair is testing 200H MA resistance at 140.70, decisive break above will drive further upside action in the pair.