Preliminary November PMI data out of France, Germany, and the Eurozone will be in focus today. Economists anticipate a minor improvement over October data, but PMI reports have been volatile. The final third-quarter German GDP is also expected to confirm Europe’s largest economy avoided a technical recession. With the EURJPY at resistance, how will price action react after the release of PMI data? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Japanese inflation data confirmed the absence of inflationary pressures and the Bank of Japan has hinted that it may be time to adjust monetary policy. PMI data out of Japan showed a minor increase, but the manufacturing and composite PMI’s remained below 50.0 and indicate contraction. The EURJPY remained in a holding pattern, how will this be impacted after the release of Eurozone data? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.