2020-08-31 18:15
Market analysisEUR/JPY Outlook (31 August 2020)
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Market analysis：
Overall, EUR/JPY is trending upwards. Recently, EUR/JPY rejected the resistance zone of 126.500.
Last Friday, Japanese Prime Minister Shinzo Abe announced his resignation as Prime Minister due to his chronic illness. The voting of his successor may be held on 15 September.
The French preliminary CPI m/m data released last Friday indicated a slowdown in the decline of inflation for August. The preliminary GDP q/q data released indicated continued decline in economic growth in the second quarter of 2020.
-French Preliminary CPI m/m (Actual: -0.1%, Forecast: -0.2%, Previous: 0.4%)
-French Preliminary GDP q/q (Actual: -13.8%, Forecast: -13.8%, Previous: -13.8%)
The German Preliminary CPI m/m data (Forecast: 0.0%, Previous: -0.5%) will be released today at a tentative timing.
EUR/JPY’s next support zone is at 124.200 and the next resistance zone is at 126.500.
Look for buying opportunities of EUR/JPY.
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EUR/JPY Outlook (31 August 2020)
Singapore | 2020-08-31 18:15Overall, EUR/JPY is trending upwards. Recently, EUR/JPY rejected the resistance zone of 126.500.
Last Friday, Japanese Prime Minister Shinzo Abe announced his resignation as Prime Minister due to his chronic illness. The voting of his successor may be held on 15 September.
The French preliminary CPI m/m data released last Friday indicated a slowdown in the decline of inflation for August. The preliminary GDP q/q data released indicated continued decline in economic growth in the second quarter of 2020.
-French Preliminary CPI m/m (Actual: -0.1%, Forecast: -0.2%, Previous: 0.4%)
-French Preliminary GDP q/q (Actual: -13.8%, Forecast: -13.8%, Previous: -13.8%)
The German Preliminary CPI m/m data (Forecast: 0.0%, Previous: -0.5%) will be released today at a tentative timing.
EUR/JPY’s next support zone is at 124.200 and the next resistance zone is at 126.500.
Look for buying opportunities of EUR/JPY.
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