FxWirePro: EUR/JPY consolidates 'Symmetric Triangle' breakout, eyes 200-DMA at 129.81

EUR/JPY chart on Trading View used for analysis

• EUR/JPY hovers around 129 handle, down 0.16% on the day at the time of writing.
   
• The single currency under pressure ahead of Eurozone inflation data.
   
• Earlier today German retails sale disappointed, came in below expectations in October, contracting 0.3% MoM and expanding 5.0% YoY. 
   
• Focus now on flash inflation figures in Euroland for the month of November for further impetus. Any disappointment will weigh on th euro.
   
• Italy's willingness to amend the budget is being well received by the markets. But caution likely to prevail as we head into the G20 summit. 
   
• Technicaly, the pair has broken out of 'Symmetric Triangle' pattern and is extending consolidation at 129 handle.
   
• Momentum with the bulls and upbeat data could see test of 200-DMA at 129.81. On the flipside, retrace back into Triangle could see weakness.

Support levels - 128.91 (5-DMA), 128.82 (21-EMA)

Resistance levels - 129.81 (200-DMA), 130

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.