Should we be wary of a decline in cross-yen pairs?

Should we be wary of a decline in cross-yen pairs?

19.04.2021

Last weekend saw a risk-on market characterized by rising stock prices, a weaker U.S. dollar, and lower interest rates. The German DAX, which posted the largest gain, closed at 15,459, up 1.34% from the previous day, setting a new all-time high. The U.S. market also saw a bullish trend, with the Dow Jones Industrial Average and the S&P 500 hitting new record highs for consecutive days.In tandem with the rise in stock prices, the yield on the 10-year U.S. Treasury note has fallen to 1.56%.

In addition, the decline in Bitcoin, a cryptocurrency, has been particularly notable. BTC, which had briefly reached $70,000, fell below $60,000 and dropped to the $58,000 range. In the foreign exchange market, the U.S. dollar is weakening; USD/JPY has fallen to 108.4, and other yen crosses are also showing a slight downward trend.The EUR/JPY pair fell from 130.2, breaking below the key 130.00 level, and dropped to 129.7. The GBP/JPY pair fell from 150.5 to 150.0 during today’s Asian trading session.

Today, the release of Canadian housing starts is scheduled for 9:15 PM; other than that, no major economic indicators or statements from key figures are expected. Since prices can sometimes fluctuate significantly when there are no major economic releases, we will carefully monitor price movements while remaining vigilant for sudden changes in volatility.

Past Market Reports

1. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

6. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

7. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

9. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 07.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran