Overall, EUR/JPY is trending upwards. Recently, EUR/JPY trended into the support zone of 132.000.

The series of flash PMI data released last Friday indicated an overall slowdown in business activities across Europe amid the ongoing supply bottlenecks.

  • French Flash Manufacturing PMI (Actual: 53.5, Forecast: 53.9, Previous: 55.0 revised from 55.2)
  • French Flash Service PMI (Actual: 56.6, Forecast: 55.6, Previous: 56.2 revised from 56.0)
  • German Flash Manufacturing PMI (Actual: 58.2, Forecast: 56.5, Previous: 58.4 revised from 58.5)
  • German Flash Services PMI (Actual: 52.4, Forecast: 55.2, Previous: 56.2 revised from 56.0)
  • Flash Manufacturing PMI (Actual: 58.5, Forecast: 57.0, Previous: 58.6 revised from 58.7)
  • Flash Services PMI (Actual: 54.7, Forecast: 55.4, Previous: 56.4 revised from 56.3)

The German ifo Business Climate data (Forecast: 98.2, Previous: 98.8) will be released later at 1600 (GMT+8).

Currently, EUR/JPY is testing the support zone of 132.000 and the next resistance zone is at 134.000.
Look for short-term buying opportunities of EUR/JPY if it bounces off the support zone of 132.000.

Be sure to follow me on Twitter at @jdtai and on TradingView at Jin_LCMSTraders for my latest post!


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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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