Market analysis：Overall, EUR/JPY is trending downwards. Recently, EUR/JPY moved higher into the key level of 124.The German Preliminary CPI m/m data (Actual: -0.2%, Forecast: -0.1%, Previous: -0.1%) released yesterday indicated a slight decline in inflation in Germany.European Central Bank President Lagarde will be speaking at the ECB and its Watchers Conference later at 1520 (SGT). During this time, there may be volatility in EUR.Currently, EUR/JPY is bouncing off the key level of 124. Its next support zone is at 121.700 and the next resistance zone is at 124.600.Look for selling opportunities of EUR/JPY.
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