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FxWirePro: EUR/JPY Daily Outlook
EUR/JPY chart - Trading View
EUR/JPY was trading 0.35% lower on the day at 132.66 at around 10:15 GMT.
The pair has snapped at 10-day bullish streak and has slipped below 5-DMA.
Price action is extending weakness after 'Spinning Top' formation on the previous day's candle dents upside.
On the data front, Italy Industrial Sales expanded at 0.8% month-on-month during August and 13.8% from a year earlier.
In France, the Business Confidence stayed unchanged at 107 for the current month. Focus now on eurozone consumer confidence for October month.
Technical indicators are biased higher. Minor pullback likely on account of overbought conditions.
200H MA is strong support at 132.05, retrace below will change near-term dynamics. Bullish invalidation only below 200-month MA.