EUR/USD technicals are hinting at a recovery but we do have a lot of high impact data ahead. EUR/JPY continues to struggle for direction on the threat of FX intervention by the BoJ. Will the week ahead provide any clarity?
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At this stage we do need some form of catalyst for a breakout whether in the form of FX intervention from the BoJ or any sign of a bullish resurgence in the Euro. Friday's daily candle is on course for a shooting star candle close which could hint at some bearish price action to start the week. In the absence of this i fear EURJPY may remain rangebound with short-term positions remaining the most appealing.EURUSD is more interesting even with a bunch of fundamentals in the week ahead.
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