EUR/JPY Outlook (23 June 2021)

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EUR/JPY Outlook (23 June 2021)

ByJin Dao Tai

 JUN 23, 2021

EUR/JPY Outlook (23 June 2021)

Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke above the key level of 132.

The eurozone Consumer Confidence data (Actual: -3Forecast: -4Previous: -5) released yesterday indicated a slight decline in the level of pessimism of the surveyed consumers on the eurozone economy.

The French flash PMI data will be released later at 1515 (SGT).

  • French Flash Manufacturing PMI (Forecast: 59.0Previous: 59.4 revised from 59.2)
  • French Flash Service PMI (Forecast: 59.6Previous: 56.6 revised from 50.4)

The German Flash PMI data will be released later at 1530 (SGT).

  • German Flash Manufacturing PMI (Forecast: 63.0Previous: 64.2 revised from 64.0)
  • German Flash Services PMI (Forecast: 55.8Previous: 52.8)

The eurozone flash PMI data will be released later at 1600 (SGT).

  • Flash Manufacturing PMI (Forecast: 62.4Previous: 63.1 revised from 62.8)
  • Flash Services PMI (Forecast: 58.1Previous: 55.2 revised from 55.1)

European Central Bank President Lagarde will be speaking tomorrow at 0000 (GMT+8).

During this time, there may be volatility in EUR.

EUR/JPY’s next support zone is at 130.800 and the next resistance zone is at 132.800.

Look for short-term buying opportunities of EUR/JPY.

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