2020-09-16 18:28
Market analysisEUR/JPY Outlook (16 September 2020)
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Market analysis：
Overall, EUR/JPY is ranging across. Overall, EUR/JPY moved lower into the support zone of 124.600.
The Bank of Japan (BoJ) will be announcing their interest rate decision tomorrow at a tentative timing. It is expected that the central bank will be holding interest rate unchanged at -0.10% while no new monetary policy changes will be carried out. A press conference will also be held at a tentative timing after the announcement.
The German ZEW Economic Sentiment data (Actual: 77.4, Forecast: 69.7, Previous: 71.5) released yesterday indicated an unexpected increase in investors’ level of optimism in the German economy.
Currently, EUR/JPY is testing the support zone of 124.600 and the next resistance zone is at 126.700.
Look for selling opportunities of EUR/JPY if it breaks the support zone of 124.600.
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EUR/JPY Outlook (16 September 2020)
Singapore | 2020-09-16 18:28Overall, EUR/JPY is ranging across. Overall, EUR/JPY moved lower into the support zone of 124.600.
The Bank of Japan (BoJ) will be announcing their interest rate decision tomorrow at a tentative timing. It is expected that the central bank will be holding interest rate unchanged at -0.10% while no new monetary policy changes will be carried out. A press conference will also be held at a tentative timing after the announcement.
The German ZEW Economic Sentiment data (Actual: 77.4, Forecast: 69.7, Previous: 71.5) released yesterday indicated an unexpected increase in investors’ level of optimism in the German economy.
Currently, EUR/JPY is testing the support zone of 124.600 and the next resistance zone is at 126.700.
Look for selling opportunities of EUR/JPY if it breaks the support zone of 124.600.
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