FxWirePro: EUR/JPY extends sideways along 21-EMA, German jobs and Eurozone Q4 GDP data in focus

EUR/JPY chart on Trading View used for analysis

• EUR/JPY extends sideways grind along 21-EMA, intraday bias neutral.
   
• Major trend in the pair remains bearish, break below 20-DMA will see weakness.
   
• That said, US-DE (German) 10-year yield spread fell to 248 basis points earlier today, with scope for further downside, favors upside in the EUR. 
   
• Focus now on , German jobs and the Eurozone Q4 GDP data for further impetus.
   
• Upbeat data which could dash hopes of a dovish change in the ECB's forward guidance might support the Euro higher.
   
• For now, we do not see much support for any upside on the charts from technical indicators.
   
• Next major resistance lies at 38.2% Fib at 126, while 1H 55 EMA is immediate support at 125.

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