Chart - Courtesy Trading View
EUR/JPY was trading 0.50% lower on the day at 135.54 at around 11:10 GMT.
The pair extends weakness below 110-EMA, edges closer towards 200-DMA.
Weaker than expected German Retail sales data dent the single currency, dragging the pair lower.
Data released by Destatis showed on Monday, Germany's Retail Sales dropped by -1.6% MoM in June versus 0.2% expected and 0.6% last.
On an annualized basis, German Retail Sales came in at -8.8% in June versus -8.0% expected and -3.6% booked in May.
Technical indicators for the pair are biased lower. Momentum is strongly bearish. Volatility is high.
Support levels:
S1: 134.33 (50% Fib)
S2: 133.68 (200-DMA)
Resistance levels:
R1: 136.68 (38.2% Fib)
R2: 137.25 (5-DMA)
Summary: EUR/JPY trades with a bearish bias. Scope for dip till 200-DMA at 133.68.
