Will cross-yen pairs, which have been selling off, rise again? Caution is advised.

Will cross-yen pairs, which have been selling off, rise again? Caution is advised.

27.12.2022

In the previous day’s U.S. currency trading, the EUR/USD pair traded sideways as markets in Europe and the U.S. were closed for the Christmas holiday.The EUR/USD pair traded in a narrow range between 1.0586 and 1.0632, lacking direction just below the 200-period simple moving average (SMA) on the hourly chart. However, during today’s Asian session, it has been testing the upside, albeit modestly, and has moved above the 20-period moving average (MA) on the 4-hour chart. Therefore, we will be watching to see if it reaches the recent high of 1.0735 during the European session.

European currencies saw the euro/yen pair fall during Asian trading hours, dropping to 140.293. However, it has since recovered during today’s Asian session and is currently trading around 141.494. With cross-yen pairs generally rising slightly today—partly due to yen selling—we will be keeping a close eye on the extent of the gains heading into U.S. trading hours.

Today, at 14:00 Asia time, Japan’s housing starts and construction orders will be released; at 16:00 Europe time, Norway’s retail sales will be released; at 20:00, France’sunemployment figures, U.S. wholesale inventories, the S&P/Case-Shiller Home Price Index, and the U.S. Home Price Index at 22:30 U.S. time, the Dallas Fed Manufacturing Activity Index at 24:30, the U.S. 2-year Treasury auction at 27:00, and the Bank of Korea Manufacturing Business Outlook Index at 29:00.We will closely monitor whether cross-yen pairs, which have been selling off, will rebound.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 16.04.2026New

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

5. 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

6. 14.04.2026

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

7. 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

8. 10.04.2026

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

9. 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?

10. 08.04.2026

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