EUR/JPY Outlook (12 July 2021)
ByJin Dao Tai
JUL 12, 2021
Overall, EUR/JPY is ranging across. Recently, EUR/JPY bounced off the support zone of 130.000.
In the minutes for the previous monetary policy meeting released last Friday, it was stated that the central bank committee members discussed on a cut in quantitative easing during their 10 June meeting amid the picked-up pace of the ongoing economic recovery. This led to the strengthening of EUR.
Eurogroup meetings will be held today. There may be volatility in EUR.
Currently, EUR/JPY is moving towards the key level of 131. Its next support zone is at 130.000 and the next resistance zone is at 132.000.
Look for short-term buying opportunities of EUR/JPY if it breaks above the key level of 131.
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