Menu

Search

Menu

Search

FxWirePro: EUR/JPY pauses downside after German advanced April CPI surprises to the upside

EUR/JPY chart - Trading View 

EUR/JPY was trading 0.06% higher on the day at 115.70 at around 15:15 GMT. The single currency buoyed after German advanced April CPI surprised to the upside. 

German flash inflation figures tracked by the CPI showed consumer prices are seen rising at a monthly 0.3% and 0.8% on a year to April. 

The broader HICP is expected at 0.4% inter-month and 0.8% over the last twelve months.

The pair has slipped below crucial 116 handle, scope for further weakness on charts.

Technical analysis points to further weakness in the pair. Momentum strongly bearish and volatility is rising on the weekly charts.

Next bear target lies at 115.26 (78.6% Fib) ahead of 112.43 (88.6% Fib). Bearish invalidation only above daily cloud. 
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.