Should we keep a close eye on the direction of the rising euro-yen exchange rate?

Should we keep a close eye on the direction of the rising euro-yen exchange rate?

12.04.2022

In the previous session, the U.S. dollar traded in a tight range against the euro, with the EUR/USD pair fluctuating between 1.087 and 1.093. Similarly, the GBP/USD pair traded in a range between 1.298 and 1.305, showing no clear direction. Notably, the daily RSI for GBP/USD stands at 33, so we will be closely monitoring whether it forms a double bottom on the daily chart.

European currencies weakened again as reports emerged that approximately 10,000 civilians had been killed in Mariupol, in southeastern Ukraine, fueling concerns about the escalation of a war with no end in sight. Among the yen crosses, the euro/yen pair is facing particularly strong resistance on the upside and is currently attempting to rise around the 136.49 level.

Today, at 3:00 PM, the UK unemployment rate and the German Consumer Price Index will be released; at 4:00 PM, Turkey’s industrial production figures; at 6:00 PM, the German/Eurozone ZEW Economic Sentiment Survey;the US NFIB Small Business Optimism Index at 7:00 PM, the US Consumer Price Index at 9:30 PM, remarks by incoming Fed Vice Chair Brainard at 1:10 AM, the US 10-year Treasury auction at 2:00 AM, the US budget balance at 3:00 AM, and remarks by Richmond Fed President Barkin at 7:45 AM the following day.We will keep an eye on the direction of cross-yen pairs while paying close attention to economic data releases starting in European trading hours.

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?