EUR/JPY chart - Trading View
EUR/JPY has slipped lower from session highs at 134.07 and was trading largely unchanged on the day at 133.71 at around 10:45 GMT.
The single currency depressed after downbeat German Retail Sales data. Retail sales are widely followed as an indicator of consumer spending.
Data released by Germany’s Destatis on Wednesday showed the country’s Retail Sales fell by 5.5% MoM in April versus -2.0% expected and 7.7% last.
On an annualized basis, the German Retail Sales printed at 4.4% in April versus 10.1% seen in March and 11.0% expected.
The shared currency bears the brunt of downbeat German Retail Sales data, slips across the board.
EUR/JPY however trades with a major bullish bias. Pullbacks are likely to be shallow. The pair finds strong support at 200H MA at 133.41.
Resumption of upside will see test of 88.6% Fib at 134.87. On the flipside, break below 200H MA will change near-term dynamics.
