FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(EURUSD and GBPJPY) for the day
FxWirePro: EUR/JPY Daily Outlook
Chart - Courtesy Trading View
EUR/JPY slipped lower from session highs and was trading 0.50% lower on the day at 135.76 at around 12:40 GMT.
The single currency remained on the back foot after Eurozone Consumer Price Inflation figures for April showed modest negative revision.
The data from the euro area showed on Wednesday that the annual HICP was 7.4% in April, compared to the flash estimate and the market expectation of 7.5%.
Concerns about the Eurozone's economic outlook amid the fall-out of the war in Ukraine and the impact of sanctions on Russia undermine the euro.
EUR/JPY fails to extend break above 21-EMA, snaps three-day bullish streak, slips below 200H MA.
Momentum is bearish, volatility is high, MACD supports downside in the pair. 5-DMA caps upside.
Immediate support is seen at 55-EMA at 134.78. Break below will see dip till daily cloud and 110-EMA at 133.16.