Forex traders will get a heavy dose of Eurozone economic data to close out the trading week. Confidence data will be front and center, economists expect little change from the previous month. The German Import Price Index showed deflationary pressures in the Eurozone’s biggest economy which will be monitored closely by the ECB. The EURJPY entered a severe sell-off over the past few sessions, how will today’s data flow impact price action? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.

The Japanese Yen has attracted safe haven bids as trade jitters flared up once again, global economic data disappointed and political uncertainty increased in the UK as well as the US. The Bank of Japan is closely monitoring the strength of the Japanese currency as it is hurting its exporters, will the Japanese central bank interfere? With the Trump impeachment process unfolding, will the Japanese Yen get a boost or will traders take profits which will rally the EURJPY? Subscribe to the PaxForex Daily Fundamental Analysis and take the profitable side of this currency pair.