Should we keep an eye on the upside potential for the USD/JPY pair as it enters the 130-yen range?

Should we keep an eye on the upside potential for the USD/JPY pair as it enters the 130-yen range?

02.06.2022

U.S. currencies were firm and rose across the board yesterday as the yield on the 10-year U.S. Treasury note recovered to the 2.9% range. In particular, the USD/JPY pair rose from 128.56 to 130.20.During today’s Asian trading session, the pair has maintained the key 130-yen level. Technically, USD/JPY continues to rise along the 20-period moving average on the hourly chart, and since the daily RSI has not yet reached 70, we will be watching closely to see if the upward trend continues.

Among European currencies, the pound is showing strength against the euro, with the EUR/GBP pair rising slightly from 0.850 to 0.854. On the 4-hour chart, the pair continues to rise, supported by the 75-period moving average (MA), and since the MAs remain in a perfect order, we will be watching to see if the rally continues toward the recent high of 0.858.

Today’s schedule includes the Swiss Consumer Price Index at 15:30 CET, the Eurozone Producer Price Index at 18:00 CET, and the U.S. Challenger Job Cuts at 20:30 CET; followed by the U.S. ADP National Employment Report at 21:15 ET, Canadian Housing Starts at 21:30 ET,U.S. Initial Jobless Claims, U.S. Q1 Nonfarm Productivity, at 23:00 U.S. Manufacturing Orders, at 23:30 U.S. Weekly Natural Gas Inventories, at 23:45 remarks by Bude, Deputy Governor of the Bank of Canada, at 24:00 U.S. Weekly Crude Oil Inventories,and at 2:00 AM, remarks by U.S. Federal Reserve Bank of Cleveland President Mester are scheduled. We will be watching for further upside potential in USD/JPY, which has entered the 130 yen range.

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?