Should we be wary of further upside potential in the franc-yen pair, which has reached a 42-year high?

Should we be wary of further upside potential in the franc-yen pair, which has reached a 42-year high?

28.06.2022

Yesterday, the U.S. dollar continued to rise against the euro, with the EUR/USD pair climbing approximately 70 pips from 1.054 to 1.061. On the hourly chart, the EUR/USD has surpassed its recent high of 1.060, and on the 4-hour chart, it is gradually setting new highs. We will be watching closely to see if this upward trend continues and whether the pair can firmly break above the 200-period SMA on the 4-hour chart.

In the European currency markets, the Swiss franc is showing strength, rising against both the yen and the U.S. dollar. In particular, the CHF/JPY pair—which is trading near a 42-year high—is climbing rapidly, approaching the high of 141.887 reached on the 22nd of last week, and is currently trading around 141.562 during today’s Asian session. Since the pair is finding solid support at the 20-day moving average on the hourly chart, we should pay close attention to whether this upward trend will continue.

Today’s schedule includes the German GfK Consumer Confidence Survey at 3:00 PM Asia time and the French Consumer Confidence Index at 3:45 PM; in Europe, ECB President Lagarde’s remarks at 5:00 PM and BOE Deputy Governor Kanrif’s remarks at 7:00 PM; and in the U.S., U.S. Wholesale Inventories (flash estimate) at 9:30 PM,at 10:00 PM the U.S. S&P/Case-Shiller Home Price Index, at 11:00 PM the U.S. Consumer Confidence Index, the U.S. Richmond Fed Manufacturing Index, and remarks by U.S. Federal Reserve Bank of San Francisco President Daly, and at 2:00 AM the U.S. 7-year Treasury auction. We should remain cautious about the upside potential of the rising CHF/JPY pair.

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?