ByJin Dao Tai
MAY 12, 2021
Overall, EUR/JPY is trending upwards.
The eurozone and German ZEW economic sentiment data released yesterday indicated a strong improvement in the economic outlook of Germany and the eurozone amid the slowing down of the third wave of the pandemic in the eurozone.
- Eurozone ZEW Economic Sentiment (Actual: 84.0, Forecast: 68.0, Previous: 66.3)
- German ZEW Economic Sentiment (Actual: 84.4, Forecast: 72.0, Previous: 70.7)
The EU economic forecasts will be released later at 1700 (SGT).
Currently, EUR/JPY is testing to break below the key level of 132. Its next support zone is at 130.800 and the next resistance zone is at 132.800.
Look for buying opportunities of EUR/JPY if it bounces up from the key level of 132.
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