ByJin Dao Tai
JUL 8, 2021
Overall, EUR/JPY is ranging across. Recently, EUR/JPY bounced down from the key level of 131.
In the released quarterly EU Economic Forecasts yesterday, the European Commission revised the eurozone economic growth forecast for 2021 and 2022 upwards from 4.2% to 4.8% and 4.4% to 4.5% respectively. Inflation for 2021 and 2022 have also been revised upwards from 1.7% to 2.2% and 1.3% to 1.6% respectively.
The European Central Bank will be releasing the minutes for its recent monetary policy meeting later at 1930 (GMT+8).
Currently, EUR/JPY is moving towards the support zone of 130.000 and the next resistance zone is at 132.000.
Look for selling opportunities of EUR/JPY if it breaks the support zone of 130.000.
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