ByJin Dao Tai
JUL 7, 2021
Overall, EUR/JPY is ranging across. Recently, EUR/JPY broke below the key level of 131.
The eurozone and German ZEW Economic Sentiment data released yesterday indicated optimism from the surveyed investors and analysts on the eurozone and German economy remains high although the level has declined from the previous release.
- ZEW Economic Sentiment (Actual: 61.2, Forecast: 79.0, Previous: 81.3)
- German ZEW Economic Sentiment (Actual: 63.3, Forecast: 75.0, Previous: 79.8)
Also, the eurozone Retail Sales m/m data (Actual: 4.6%, Forecast: 4.3%, Previous: -3.1%) released indicated a strong recovery in consumer spending in May.
The quarterly EU Economic Forecasts will be released later at 1700 (GMT+8).
EUR/JPY’s next support zone is at 130.000 and the next resistance zone is at 132.000.
Look for short-term selling opportunities of EUR/JPY.
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