EUR/JPY chart - Trading View
EUR/JPY was trading 0.28% higher on the day at 130.00 at around 10:35 GMT, bias bullish.
The single currency buoyed after upbeat Eurozone Consumer Price Index (CPI) data released earlier today.
Data published by Eurostat on Tuesday showed annualized Eurozone Consumer Price Index (CPI) came in at 3.0% in August, beating expectations of 2.7% while rising from June’s reading of 2.2%.
The core figures were up by 1.6% YoY in August when compared to 1.5% expectations and 0.7% recorded previously.
EUR/JPY has likely found strong support at 200-DMA. The pair's pullback from multi-month highs of 134.43 (May 2021) has retraced brief dip below 200-DMA.
The pair has retaken 130 handle and is testing cloud resistance. Decisive close above 130 handle will fuel further gains.
Next major hurdle lies at 20-week MA at 131.07. Bullish invalidation only below 200-DMA.
