Singapore
2020-07-15 14:47
Market analysisEUR/JPY Outlook (15 July 2020)
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Market analysis:
Overall, EUR/JPY is ranging across. Recently, EUR/JPY trended higher into the resistance zone of 121.700.
Earlier today, the Bank of Japan (BoJ) held interest rate unchanged at -0.10% and no new easing measures were carried out. However, the BoJ expressed pessimism in the Japanese economy, stating that it is in an extremely severe situation with the impact of COVID-19 despite the resumption of economic activities. The central bank also revised their GDP forecast from -5.0% to -3.0% in April to -5.7% to -4.5% while inflation forecast has been revised from -0.7% to -0.3% in April to -0.6% to -0.4%.
EUR/JPY’s next support zone is at 121.700 and the next resistance zone is at 124.200.
Look for buying opportunities of EUR/JPY.
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EUR/JPY Outlook (15 July 2020)
Singapore | 2020-07-15 14:47
Overall, EUR/JPY is ranging across. Recently, EUR/JPY trended higher into the resistance zone of 121.700.
Earlier today, the Bank of Japan (BoJ) held interest rate unchanged at -0.10% and no new easing measures were carried out. However, the BoJ expressed pessimism in the Japanese economy, stating that it is in an extremely severe situation with the impact of COVID-19 despite the resumption of economic activities. The central bank also revised their GDP forecast from -5.0% to -3.0% in April to -5.7% to -4.5% while inflation forecast has been revised from -0.7% to -0.3% in April to -0.6% to -0.4%.
EUR/JPY’s next support zone is at 121.700 and the next resistance zone is at 124.200.
Look for buying opportunities of EUR/JPY.
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