Chart - Courtesy Trading View
EUR/JPY was trading 0.42% lower on the day at 146.50 at around 10:35 GMT. The pair has snapped a six-day bearish streak and has slipped below the 147 handle.
According to Eurostat’s final reading, Eurozone Harmonised Index of Consumer Prices (HICP) inflation surged 9.9% in September, on an annualized basis.
The reading missed expectations of 10.0% while against the previous reading of 10.0%. Core figures rose by 4.8% YoY, meeting the 4.8% market estimates and 4.8% last.
The bloc’s HICP rose by 1.2% MoM versus 1.2% expected and 1.2% first estimate. The core HICP numbers printed at 1.0% MoM versus 1.0% expected and 1.0% previous.
The pair has slipped lower from 8-year high at 147.25, major trend remains bullish. Volatility is high and rising.
5-DMA is immediate support at 145.71. Break below will see dip till 21-EMA at 143.21.
