The EUR/JPY pair might fall in the medium term, according to our technical analysis. The price is below EMA 50 and EMA 200 on the daily chart, and the RSI oscillator is still below 50. The MACD remains in negative territory. The EUR/JPY may fall at around 121.00 in the medium term. The euro currency has slipped in value after the European Central Bank (ECB) trimmed its growth forecasts for this year. The 2019 GDP (gross domestic product) figure was cut back to 1.7 percent from a previous forecast of 1.8 percent.
The most important data from this week:
Japan GDP QoQ (+0.4% expectation); ( -0.6% previous)
YoY (+1.4% expectation); (-2.5% previous)
Germany GDP QoQ (+0.1% expectation); ( -0.2% previous)
YoY (+0.8% expectation); (+1.1% previous)
Eurozone GDP QoQ (+0.2% expectation); (+0.2% previous)
YoY (+1.2% expectation); (+1.2% previous)