$\vec{\mu}=\overrightarrow{\mathbf{E}} \times \overrightarrow{\mathbf{B}}$
$=E_0 \hat{\mathbf{i}}+B_0 \hat{\mathbf{j}}=E_0 B_0 \hat{\mathbf{k}}$
$\overrightarrow{\mathbf{E}} \times \overrightarrow{\mathbf{B}}$ points in the direction of wave propagation.