The EUR/JPY cross pair retraces from daily highs reached earlier at around 157.48 and tumbled below the 157.00 figure as market participants get ready for the central bank bonanza, starting with the US Federal Reserve on Wednesday. At the time of writing, the pair is trading at 156.58, down 0.24%- The pair is downward biased once it breaches below the Ichimoku Cloud (Kumo), and also with the Tenkan-Sen turning bearish, dropping below the Kijun-Sen. In addition, the EUR/JPY has failed to regain a five-month-old previous support trendline turned resistance. (full story)