Caution over the continued yen-buying trend since last weekend

Caution over the continued yen-buying trend since last weekend

17.01.2022

Last weekend, the three major U.S. stock indices saw mixed performance, with the Nasdaq closing higher. The market was characterized by flat stock prices, rising oil prices, and higher interest rates. The massive undersea volcanic eruption off the coast of Tonga that occurred last Saturday, the 15th, has not had a significant impact on the market, which continues to trade without disruption.

Although crude oil prices have fallen from their highs, Oceania currencies are showing weakness in the foreign exchange market. The AUD/USD pair fell from 0.728 to 0.719 after forming a triple top on the hourly chart. From a technical perspective, the AUD/USD pair remains within a daily parallel channel and is currently trading near the lower boundary of the channel at 0.719; therefore, it will be worth watching to see if a rebound occurs.

Apart from the release of Canadian manufacturing shipments at 10:30 p.m. ET and Canadian existing home sales at 11:00 p.m. ET today, no major economic indicators or key speeches are scheduled. Additionally, U.S. markets are closed today in observance of Martin Luther King Jr. Day.This week, the Bank of Japan’s Monetary Policy Meeting is scheduled for Tuesday the 18th, Germany’s Consumer Price Index for Wednesday the 19th, and the minutes from the ECB’s regular Governing Council meeting for Thursday the 20th. While keeping a close eye on news regarding the undersea volcanic eruption off the coast of Tonga, we should remain vigilant for sudden price fluctuations.

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