EUR/JPY consolidates near 129.50 amid risk-on sentiment, EU data eyed

• EUR/JPY trades with minute gains on Monday in the early  European session.
• The Euro remains in higher spirit on upbeat economic data.
• Yen manages to hold the downside on better than expected Retail Sales data.

EUR/JPY prints some gains on Monday in the early European trading hours. The pair confide in a very narrow trade band with the consolidative move.

At the time of writing, EUR/JPY is trading at 129.55, up 0.04%  for the day.

The shared currency remained in higher spirits as the data released in the previously released showcase strong Purchase Manager Index (PMI), which stood at 15 years high in August. But gains were limited as a German business and consumer morale came weaker than expected.

It is worth noting that S&P 500 Futures were trading at 4,509.37 up 0.88 gains.

On the other hand, the Japanese manage to recover from the lower levels as sentiment improved after recent data showed retail sales in Japan rose more than expected in July following acceleration in COVID-19 vaccinations.

As for now, traders wait for the EU Consumer Confidence, Consumer Inflation Expectations, and German Inflation Rate to trade fresh trading impetus.

EUR/JPY additional levels