The German ZEW Survey, which also includes the Eurozone ZEW Survey, will be in focus today and is expected to move the Euro. Economists predict a sharp deterioration for the month of October which would confirm that the economic slowdown is gathering momentum. How will the EURJPY be impacted after the release of this report, especially if the data is even worse than expected? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Final Japanese Industrial production data confirmed the initially reported contraction, but capacity utilization contracted more than expected which suggests more economic pain for the faltering Japanese economy. The key Tertiary Index expanded less than economists anticipated, further highlighting economic weakness. The EURJPY remains inside its horizontal resistance area, will bulls force a breakout or can bears pressure a breakdown? Today’s fundamental analysis will cover price action in both directions.