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Chart - Courtesy Trading View
EUR/JPY was trading 0.28% lower on the day at 138.62 at around 11:40 GMT, bias remains bullish.
The pair has retraced from fresh 7-year high at 139.69 hit earlier in the day, upbeat Eurozone Industrial Production data fails to impress.
Data released earlier on Wednesday by Eurostat showed Eurozone’s Industrial Production rebounded in February.
Upbeat data suggested that the recovery in the manufacturing sector is regathering steam.
The industrial output in the bloc arrived at 0.7% MoM vs. a 0.7% increase expected and -0.7% last.
On an annualized basis, the industrial output was up by 2.0% in February versus a 1.5% rise expected and January’s -1.5%.
The shared currency largely unimpressed on upbeat industrial production figures. EUR/JPY turns slightly bearish on the intraday charts.
200H MA offers strong support at 136.74, break below could see more downside. Major trend is bullish, pullbacks are likely to be shallow.
