You mean whether there can ever be one, in theory? - I guess only if there's artificial consciousness. That would maybe get it to human level translation.
But not perfect, because perfect is actually not possible, even in theory.
Fully functioning however: sure. For so languages, it's functioning already. Brute forcing lookup tables (also known as artificial intelligence) is doing amazing work.
For most languages, it's going to be functioning in a few uears, I'm guessing.
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I can read facial expressions. I did the test.