EUR/JPY Outlook (05 August 2021)
ByJin Dao Tai
AUG 5, 2021
Overall, EUR/JPY is trending downwards.
The eurozone Retail Sale m/m data (Actual: 1.5%, Forecast: 1.6%, Previous: 4.1% revised from 4.6%) released yesterday indicated a strong slowdown in consumer spending in June.
Currently, EUR/JPY is moving towards the resistance zone of 130.000 and the next support zone is at 128.500.
Look for short-term selling opportunities of EUR/JPY if it bounces off the resistance zone of 130.000.
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