With today’s FOMC meeting out of the US in focus, Eurozone confidence and inflation data will dominate the European trading session. Economists predict subdued inflationary figures and a further slowdown in confidence across the Eurozone in all sectors. Should predictions be confirmed, how will price action in the EURJPY react? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Retail sales out of Japan surged in September and beat economists expectations for a good performance. Analysts are now trying to determine if this is a one-month anomaly or if Japanese consumer will continue to spend. The EURJPY hovered at resistance as forex traders await key Eurozone economic data as well the as press conference following the FOMC announcement. How will this currency pair be impacted? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.