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EUR/JPY chart - Trading View
EUR/JPY was trades in an extremely narrow range in the Asian trade, with session high at 133.13 and low at 132.93.
The pair has paused downside at 5-DMA support, break below could see dip till 21-EMA at 132.30.
ECB’s Fabio Panetta downplayed expectations about rising inflation in his interview on Wednesday.
On the data side, focus remains on the German Gfk Consumer Confidence Survey for June, expected -5.2 versus -8.8 prior.
Major trend in the pair is bullish. Breakout above 200-month MA has opened upside. Pullbacks if any are likely to be shallow.
The pair ignores Doji formation on the previous week's candle and is on track to test 88.6% Fib.
5-DMA is immediate support at 132.95. Major weakness only below 200-month MA at 130.29.
