EUR/JPY Outlook (27 July 2021)
ByJin Dao Tai
JUL 27, 2021
Overall, EUR/JPY is trending downwards.
The German ifo Business Climate data (Actual: 100.8, Forecast: 102.3, Previous: 101.8) released yesterday indicated a decline in business sentiment from the surveyed businesses due to concerns on rising COVID cases in Germany and supply constraints.
Currently, EUR/JPY is testing the resistance zone of 130.000 and the next support zone is at 128.500.
Look for short-term buying opportunities of EUR/JPY if it breaks the resistance zone of 130.000.
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