EUR/JPY chart - Trading View
EUR/JPY was trading 0.15% higher on the day at 129.54 at around 07:45 GMT, bias lower.
The common currency was holding marginal gains as traders await the German ZEW Economic Sentiment Index.
ZEW is set to release the German Economic Sentiment Index and the Current Situation Index at 0900 GMT, later in the EU session.
Analysts expect the headline Economic Sentiment Index to fall further to 56.7 in August as against a 63.3 reading in the previous month.
Meanwhile, the Current Situation Sub-Index is expected to print at 30.0 versus 21.9 seen in the previous month.
EUR/JPY trades with a bearish bias. Recovery remains capped at 200H MA and 21-EMA resistance.
Price action is below cloud, Stochs and RSI show bearish momentum. MACD is below zero and ADX supports weakness.
On the downside, the pair finds major support at 200-DMA at 128.82. Breach below will open downside.
