ByJin Dao Tai
AUG 26, 2021
Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke above the key level of 129.
The German ifo Business Climate data (Actual: 99.4, Forecast: 100.2, Previous: 100.7 revised from 100.8) released yesterday indicated a decline in optimism in companies’ expectation due to growing concerns in the hospitality and tourism sectors as COVID cases continues to rise.
The European Central Bank will be releasing the minutes for the recent monetary policy meeting later at 1930 (GMT+8).
Day 1 of the Jackson Hole Symposium will be held tomorrow. During this time, there may be volatility in EUR/JPY.
EUR/JPY’s next support zone is at 128.500 and the next resistance zone is at 130.000.
Look for short-term buying opportunities of EUR/JPY.
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