Day three: our EUR/JPY trade

EUR/JPY remained relatively tight ranged and sidelined around 137.50 with no real catalysts to drive it in either direction.

Apart from a couple of comments from ECB members suggesting deflation risk is not that high and reinforcing the idea that they have some policy tools available to them, there wasn’t much new on the economic front to move EUR/JPY.

There is no major data out of Japan nor the eurozone today, so I expect to see another fairly quiet session before activity picks up tomorrow.

On Thursday we have some key German data including CPI and jobs, while in japan we get retail sales. This should set the tone for the pair heading into the end of the week.

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