The EUR/JPY pair may fall in the near term, according to the daily and weekly charts. The MACD indicator is into negative territory, and the stochastic oscillator is down on the daily chart. The stochastic oscillator is in the overbought zone on the weekly chart. On the other hand, recent data from Europe are not favorable. Factory activity across the eurozone contracted sharply last month as demand was again stifled by the lack of clarity over Britain’s departure from the European Union and the U.S. trade war with China.
The most important data from this week:
Eurozone PPI MoM (+0.1% expectation); (-0.5% previous)
You (-1.2% expectation); (-0.8% previous)
Eurozone Composite PMI (50.2 expectation); ( 50.2 previous)
Services PMI (51.8 expectation); (51.8 previous)
EU Commision Economic Forecast
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