Should we be wary of the sustainability of the market trend favoring buying the U.S. dollar and selling the yen?

Should we be wary of the sustainability of the market trend favoring buying the U.S. dollar and selling the yen?

15.03.2022

In the U.S. currency market yesterday, the U.S. dollar rose against the yen as the yield on the 10-year U.S. Treasury note surpassed the key 2% level to reach 2.13%. The USD/JPY pair rose to the mid-118 yen range during today’s Asian trading session and is now gaining momentum toward the resistance level of 118.76. Meanwhile, the EUR/USD pair has been forming higher lows on the 4-hour chart, rebounding by 90 pips from 1.090 to 1.099.

Following yesterday’s trend, the euro remained the strongest currency in Asian trading today, with the EUR/AUD pair rising by approximately 360 pips from 1.495 to 1.528. Since the EUR/AUD pair is currently positioned just above the 20-day moving average (MA), it will be worth watching to see if it can decisively break above the 20-day MA with a solid candlestick body.

Today, during European trading hours, the UK unemployment rate will be released at 16:00, the French Consumer Price Index at 16:45, the Eurozone ZEW Economic Sentiment Survey and EurozoneIndustrial Production, at 21:15 Canadian Housing Starts, and during U.S. trading hours at 21:30 U.S. Producer Price Index and the New York Fed Manufacturing Index, at 22:00 Canadian Existing Home Sales, at 24:15 remarks by ECB President Lagarde, and at 29:00 U.S. Foreign Direct Investment in the U.S.We should keep an eye on the latest developments in the Ukraine situation while monitoring the movement of the U.S. dollar.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

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

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 16.04.2026New

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

6. 15.04.2026

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

7. 14.04.2026

   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

8. 13.04.2026

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

9. 10.04.2026

   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?

10. 09.04.2026

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