EUR/JPY chart - Trading View
EUR/JPY was trading largely muted, marginally down by 0.03% at 129.02 at around 05:25 GMT.
The pair is trading flat for the 4th straight session, technical indicators do not provide a clear directional bias.
That said, long upper wicks on the daily candles raise scope for some downside in the pair.
Price action is moving away from upper Bollinger band and slight bearish divergence on RSI and Stochs adds to the bearish pressure.
Downside for the pair will likely gather pace if the German Industrial Production and the Eurozone Sentix Investor Confidence disappoint expectations.
Focus also on Japan and eurozone Q4 GDP data due Tuesday for impetus. US-Eurozone growth divergence could dent the common currency across the board.
Price action is holding support at 200H MA. Break below will drag the pair lower. Next major support lies at 21-EMA at 128.19.


FxWirePro: USD/CNY hits 15-month low , scope for further downside
NZDJPY: Sell the Rallies as Bears Guard 92 and Range Trade Persists
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
FxWirePro: USD/ZAR down trend loses steam, remains on bearish path
FxWirePro: USD/CAD outlook weaker on renewed downside pressure
CAD/JPY Holds Positive Bias Despite Canada’s Sharp GDP Contraction: Buy Dips Toward 116 Target
FxWirePro: EUR/AUD slips following RBA minutes , plunge to test a key fibo grows
FxWirePro: GBP/AUD tracks lower on firmer Australian dollar
GBP/JPY Stuck in Holiday Neutral: Range-Bound at 210 Ahead of Christmas
FxWirePro: USD/CAD dips below lower range, bearish bias increases
FxWirePro: EUR/NZD downside pressure builds, key support level in focus
FxWirePro: EUR/CAD extends fall, vulnerable to more downside
FxWirePro: EUR/AUD attracts selling interest, vulnerable to more downside 



