The Eurozone’s two biggest economies, Germany an France, reported trade data for September this morning. Germany surprised to the upside with a rise in exports while France surprised to the downside with a bigger than expected deficit. Optimism on the global trade front increased after China announced that tariffs may be scaled back step-by-step, in a mutual fashion. The EURJPY remained at resistance, where will price action be headed next? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Japanese economic data showed a surge in labor cash earnings which also translated into a boost in overall household spending. This was a rare dose of positive economic news for the Japanese economy, which is used to depressed reading with the occasional surprise. The EURJPY remained at resistance levels as a surprise in German export data prevented a sell-off. How will price action react moving forward? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.