Currency Pair of the Week - EUR/JPY

EUR/JPY could see some additional volatility over the coming days, with the ECB and BOJ both due to announce their interest rate decisions later this week.

Although the Euro has come under selling pressure this year, it has still managed to rise against the Japanese Yen, with the move higher accelerating in March. The pair has formed an ascending wedge on a weekly timeframe, and could be eyeing a retest of its near 8-year highs as it continues to be supported in the FX market.

Will we see a break higher as the yield divergence between the EU and Japan possibly accelerates this week, or will another round of suspected BOJ intervention drive the pair lower?

Check out this article for a deeper insight into what to expect at the respective central bank meetings, as well as a technical analysis on EUR/JPY: