Despite major catalysts and market moving events in the past week, the majority of the major currency pairs appear to be in the middle of a summer consolidation. The USD/JPY pair has formed a series of spinning top candlestick patterns on the daily chart below the daily Ichimoku cloud, and could be on the way to slowly approaching the support level of 110.60.

BOJ maintained a general dovish bias in June, and their Summary of Opinions at June 15-16 Meeting was released earlier during the Sydney session. There is going to be an ECB Forum in Sintra with Central Bank heads Draghi, BOE's Carney, BOJ's Kuroda which could create some noise for their respective currency in the markets. Elsewhere during the New York session, the Durables Ex Transportation (MAY P) will be out at 12:30 PM GMT. 

However, combining the fundamental, technical and market sentiment aspects of the IDDA for a EUR GBP short term trading analysis shows there could be potential for a new opportunity.