Eurozone confidence data will play a key role today and the Euro is expected to react with an increase in volume following the release. CPI and PPI data are likely to show the absence of inflation and pose a continued challenge for the ECB. The EURJPY has pushed into its horizontal resistance zone, but how will price action react following the release of economic data across the Eurozone? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Japanese retail sales came in weaker than expected for October and the contraction wiped out the previous month’s gains. The Japanese Yen remained stable despite the economic disappointment as a contraction was expected. Forex traders will now focus on Eurozone confidence data and inflation data. What impact will it have on the EURJPY? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.