The EUR/JPY pair is expected to see some interesting movements in the upcoming week. Last week, the pair showed some strength as the euro gained against the Japanese yen. This week, traders will be keeping a close eye on key levels and economic data that could influence the pair’s direction.
The euro has been gaining ground against the yen in recent weeks, and this trend may continue in the coming days. However, traders should be cautious as the yen has also been showing some strength in the market.
One key level to watch is the 130.00 level, which has been acting as a strong support level for the pair. If the pair manages to break above this level, we could see further gains towards the 132.00 level. On the other hand, if the pair fails to hold above 130.00, we may see a pullback towards the 128.00 level.
Economic data will also play a crucial role in determining the pair’s direction. Traders should keep an eye on key economic releases from both the eurozone and Japan, as any surprises could lead to sharp movements in the pair.
Overall, the EUR/JPY pair is expected to see some volatility in the coming week. Traders should stay alert and be prepared for any sudden changes in market sentiment.