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Chart - Courtesy Trading View
EUR/JPY was trading 0.21% lower on the day at 137.27 at around 15:30 GMT. The single currency unfazed after mixed ZEW Surveys and Eurozone data.
The German ZEW headline numbers for May showed that the Economic Sentiment Index improved to -34.3 despite looming recession risks, from -41.0 previous and beating estimates of -42.0.
Meanwhile, the Current Situation sub-index slumped to -36.5 in May, below forecasts at -35.0 and compared to -30.8 recorded in the previous month.
The Eurozone ZEW Economic Sentiment Index stood at -29.5 in the current month as compared to the -43.0 previous reading and -41.0 expected.
Technical indicators do not provide a clear directional bias. Major trend is bullish, but minor trend has gone neutral as evidenced by the GMMA indicator.
21-EMA is major support at 136.72. Break below will drag the pair lower. Breach below cloud or 200-DMA will change major trend to bearish.
