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Eurozone Producer Price Index (YoY) above expectations (0.5%) in June: Actual (0.6%)

Eurozone Producer Price Index (YoY) above expectations (0.5%) in June: Actual (0.6%)
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EUR/JPY Price Forecast: Treads water above 170.00, near five-week lows

EUR/JPY attempts to halt its two-day losing streak, trading around 170.20 during the European hours on Tuesday. The bearish bias is strengthening as the technical analysis of the daily chart shows that the currency cross remains within the descending channel pattern.
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