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EURJPY declines after German retail sales data


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FXStreet (Mumbai) – The EUR/JPY pair extended the fall after the German retail sales growth slowed down in December 2014.

EUR/JPY dips below 5-DMA


The pair extended the fall to trade below the 5-DMA located at 133.46 levels after the official data showed the retail sales growth in Germany slowed to 0.2% month-on-month in December from November’s 0.9% rise. However, the losses have been capped since the year-on-year figure, at 4%, was higher than November’s print of -1.0%.


Investors shall now shift their attention to the preliminary Eurozone CPI reading due for release later today.


EUR/JPY Technical Levels


The pair currently trades 0.36% lower at 133.40. The immediate resistance is seen at 134.16, above which gains could be extended to 134.40 (hourly 200-SMA). On the flip side, support is seen at 133.36 (hourly 100-SMA) and 132.60 levels.