EUR/JPY extended its sell-off last week after a European Central bank rate decision that didn’t bring much by way of new information. That bearish move helped to bring to question the previous bullish trend that had started to show in the final weeks of Q2, and ran fairly-well into the first couple of weeks of Q3. As we trade into this week, and especially over the next 24 hours, this theme will be in full-focus as we have a Bank of Japan rate decision later tonight followed by the release of Euro-Zone inflation numbers set for tomorrow morning. The potential for volatility in the pair is very high with these drivers looming on the economic calendar.