FxWirePro: EUR/JPY upside pauses shy of 38.2% Fib, poor Eurozone data weighs

EUR/JPY chart on Trading View used for analysis

• EUR/JPY edges lower from session highs at 125.87, euro dented after poor Eurozone data.
   
• Eurozone Dec 2018 producer prices mm decrease to -0.8 % (forecast -0.6 %) vs previous -0.3 %.   
   
• Eurozone Dec 2018 producer prices yy decrease to 3 % (forecast 3.2 %) vs previous 4 %.
   
• Eurozone Feb 2019 sentix index decrease to -3.7 (forecast -0.6) vs previous -1.5.
   
• Euro bulls still incharge, we see limited impact from poor data. The pair holding gains for the day.
   
• The pair is trading 0.27% higher on the day at 125.80 at 1040 GMT.
   
• Technical studies do not support further gains. Momentum lacks traction.
   
• Upside finds stiff resistance at 126.13. Break above to see further gains.
   
• On the otherside, 21-EMA is strong support at 125.05. Break below to see weakness.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.