EUR/JPY chart - Trading View
EUR/JPY was trading 0.33% lower on the day at 128.78 at around 09:20 GMT, outlook is bearish.
The pair is extending break below 200-DMA and is on track to test 50% Fib retracement at 127.87.
The single currency loses some momentum amidst a pick-up in German 10-year Bund yields which rose to -0.30%.
On the other side, the Japanese Yen gains on optimism after a Reuters poll reported that 53% of Japanese firms expected the economy would recover to pre-pandemic levels by end of the FY2022.
Technical indicators are biased bearish. Stochs and RSI are sharply lower. Recovery attempts are rejected at daily cloud.
Price action is down for the 3rd straight session, finds next immediate support at 55-week EMA at 128.24.
Break below 55-E-week EMA will see dip till 50% Fib retracement at 127.87. Bearish invalidation only above 200-DMA.
