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EUR/JPY Outlook (04 August 2020)

FX:EURJPY   Euro / Japanese Yen
Overall, EUR/JPY is trending upwards. Recently, EUR/JPY bounced off the support zone of 124.200.

The eurozone Final Manufacturing PMI data (Actual: 51.8, Forecast: 51.1, Previous: 51.1) released yesterday indicated a slight upwards revision in the growth of the manufacturing sector in July.

Currently, EUR/JPY is moving towards the key level of 125. Its next support zone of 124.200 and the next resistance zone is at 126.500.
Look for buying opportunities of EUR/JPY if it breaks above the key level of 125.

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