FxWirePro: EUR/JPY trades weaker after Doji on Monday's candle, poor eurozone CPI data to add bearish pressure
EUR/JPY chart - Trading View
EUR/JPY was trading 0.18% lower on the day at 128.39 at around 10:15 GMT.
Dismal eurozone inflation data released earlier today is likely to add bearish pressure on the single currency.
According to Eurostat’s preliminary reading Eurozone annual CPI came in at 0.9% in February, missing expectations of 1% while remaining unchanged from the previous month.
The core figures rose by 1.1%% YoY during the said period inline with 1.1% expectations and compared to 1.4% registered in January.
The pair has resumed downside after Doji formation on previous session's candle. Hovers around 200H MA.
Stochs and RSI are showing a rollover from overbought levels. Price action has slipped below -DMA.
Break below 200H MA will see test of 21-EMA at 127.72. Further weakness will drag the pair till cloud support.