FxWirePro: EUR/JPY finds strong support at 200-DMA, break below to see further weakness

Chart - Courtesy Trading View 

EUR/JPY was trading 0.20% higher on the day at 130.72 at around 09:55 GMT.

The pair hovers around 200-DMA which is offering strong support at 130.52.

On the data front, Industrial Production in Span expanded 4.8% in the year to November and Italy Retail Sales fell at a monthly 0.4% in November.

The single currency remains marginally bid, regains some upside traction as markets await Christine Lagarde's speech.

Technical indicators are showing a bearish shift on the daily charts. 5-DMA has turned. 

Stochs are on verge of bearish rollover from overbought levels and RSI shows bearish divergence from price action.

Support levels - 130.52 (200-DMA), 130.43 (Cloud top), 130.09 (21-EMA)

Resistance levels - 130.92 (5-DMA), 131, 131.60 (Jan 5th high)

Summary: EUR/JPY was trading with a bearish bias. Watch out for break below 200-DMA to confirm further weakness.