EUR/JPY Outlook (18 August 2021)

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EUR/JPY Outlook (18 August 2021)

ByJin Dao Tai

 AUG 18, 2021

EUR/JPY Outlook (18 August 2021)

Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke the support zone of 128.500.

The eurozone flash employment change q/q data released yesterday indicated a rebound in employment during the second quarter. The GDP q/q data released indicated continued growth in the economy at the same pace during the second quarter.

  • Flash Employment Change q/q (Actual: 0.5%Forecast: 0.2%Previous: -0.2% revised from -0.3%)
  • Flash GDP q/q (Actual: 2.0%Forecast: 2.0%Previous: 2.0%)

EUR/JPY’s next support zone is at 127.150 and the next resistance zone is at 128.500.

Look for short-term selling opportunities of EUR/JPY.

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