search

An incredible cashback rate!
40% of the spread!

Join Now

Should We Keep an Eye on the Upside Potential for the Euro/Yen Pair, Which Has Reached Levels Not Seen Since the Lehman Shock?

Market Report

  1. homeHOME
  2. Market Report
  3. Should We Keep an Eye on the Upside Potential for the Euro/Yen Pair, Which Has Reached Levels Not Seen Since the Lehman Shock?

Should We Keep an Eye on the Upside Potential for the Euro/Yen Pair, Which Has Reached Levels Not Seen Since the Lehman Shock?

23.06.2023

Today's Highlights
  1. UK Retail Sales
  2. European Manufacturing/Services PMI

In the U.S. currency market yesterday, the U.S. dollar rose against the yen after the U.S. May existing home sales figure, released yesterday, came in at 4.3 million—exceeding the market forecast of 4.2 million. The USD/JPY pair rose by just under 170 pips, from 141.162 to 143.238.Combined with hawkish remarks from Fed Chair Powell—which followed those made the day before yesterday—the pair hit a new high for the year. During today’s Asian trading session, USD/JPY has touched 143.407. We will be closely monitoring the market to see if this upward trend continues.

European currencies rose against the yen as the Eurozone’s June consumer confidence index, released yesterday, improved to -16.1 from the previous reading of -17.4. The euro/yen pair rose by approximately 130 pips, from 155.595 to 156.930.This marks a rise to levels not seen since September 2008. While the RSI on the 4-hour chart has exceeded 70 and shows signs of divergence, the RSI on the weekly chart has not yet reached its recent high of 78, leaving some room to maneuver. Therefore, it will be important to monitor whether the upward momentum continues during U.S. trading hours.

Today’s highlights include UK retail sales at 15:00, Turkey’s trade balance at 16:00,Turkey’s Economic Confidence, remarks by ECB President Lagarde, France’s Manufacturing/Services PMI at 16:15, Germany’s Manufacturing/Services PMI at 16:30, the Eurozone’s Manufacturing/Services PMI at 17:00, the UK’smanufacturing/services PMI at 17:30, remarks by U.S. St. Louis Fed President Bullard at 18:15, U.S. manufacturing/services PMI at 22:45, and remarks by U.S. Cleveland Fed President Mester at 26:40.We will be watching for upside potential in the euro/yen pair, which has reached levels not seen since the Lehman Shock.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Will the Bank of England raise rates by 0.25% or more? Market participants are keeping a close eye on the pound’s movements.

Next Article

Should We Be Wary of the Ongoing Yen Weakness, Which Shows No Signs of Slowing Despite Declines in PMI Indices Across Various Countries?
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications on price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for four hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings