EUR/JPY Outlook (30 July 2021)

#OPINIONLEADER#

ByJin Dao Tai

 JUL 30, 2021

Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke the resistance zone of 130.000.

The eurozone CPI flash estimate y/y, preliminary flash GDP q/q and unemployment rate data will be released later at 1700 (GMT+8).

• CPI Flash Estimate y/y (Forecast: 2.0%, Previous: 1.9%)
• Core CPI Flash Estimate y/y (Forecast: 0.7%, Previous: 0.9%)
• Preliminary Flash GDP q/q (Forecast: 1.5%, Previous: -0.3% revised from -0.6%)
• Unemployment Rate (Forecast: 7.9%, Previous: 7.9%)

Currently, EUR/JPY is testing the support zone of 130.000 and the next resistance zone is at 132.000.

Look for short-term selling opportunities of EUR/JPY if it breaks the support zone of 130.000.