Overall, EUR/JPY is trending upwards. Recently, EUR/JPY bounced off the resistance zone of 126.700.
The eurozone Retail Sales m/m data (Actual: 1.5%, Forecast: 0.7%, Previous: -1.7% revised from -2.0%) released yesterday indicated a strong rebound in consumer spending.
Currently, EUR/JPY is testing to break below the key level of 126. Its next support zone is at 124.750 and the next resistance zone is at 126.700. Look for short-term buying opportunities of EUR/JPY if it breaks above the key level of 126.