Will the cross-yen pairs, which have been in a corrective downtrend, show signs of a rebound? We will be watching closely.

Will the cross-yen pairs, which have been in a corrective downtrend, show signs of a rebound? We will be watching closely.

06.03.2023

Last weekend, the U.S. dollar fell against both the yen and the euro, despite economic indicators released during U.S. trading hours exceeding market expectations. The EUR/USD pair rose from 1.0587 to 1.0638, rebounding as it found support at the 75-day moving average on the daily chart. From a technical perspective, the EUR/USD pair has rebounded along the 20-period moving average on the 4-hour chart and is forming higher lows, so we will be watching price action during European trading hours.

European currencies fell against the yen after the Eurozone’s January Producer Price Index, released last Friday, came in at 15.0% year-on-year—lower than both the previous month’s figure and market expectations.The EUR/JPY pair fell from 145.041 to 144.292, marking its second consecutive day of decline. However, during today’s Asian trading session, the pair has halted its decline as the 200-period simple moving average (SMA) on the hourly chart has provided support. Therefore, we will be closely watching for a potential rebound during U.S. trading hours.

Today, at 4:00 PM, Sweden’s current account balance for October–December; at 4:30 PM, Switzerland’s consumer price index and Hungary’s retail sales;at 6:30 PM, the UK Construction PMI; at 7:00 PM, Eurozone Retail Sales; at 8:00 PM, the Canadian Leading Economic Index; at 9:00 PM, Mexico’s Gross Fixed Capital Formation; and at midnight, the Canadian Ivey PMI and the US Manufacturing Orders Index. We will be watching closely to see if the cross-yen pairs, which have been in a corrective downtrend, will show any signs of a rebound.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran