EUR/JPY chart - Trading View
EUR/JPY was trading 0.42% higher on the day at 124.90 at around 11:40 GMT.
The major was holding onto gains above the daily cloud as the single currency remained muted to Eurozone data disappointment.
According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at -0.3% in November, missing expectations of -0.2% and compared to -0.3% previous.
Details of the report showed the core figures came in at 0.2% in the reported month inline with +0.2% expected and +0.2% previous.
Technical indicators show upside for the pair. Analysis of GMMA indicator shows minor trend has shifted to bullish, while major trend remains neutral.
Weekly charts show stiff resistance at 200W MA at 125.21. Decisive break above to see further upside.
Next hurdle aligns at 50% Fib at 125.95 ahead of 61.8% Fib at 128.67. Failure at 200W MA will negate any further bullishness.
