search

Compatible with MT4/MT5!
Easy trading on the go

Install Now

Should we be wary of the price movements in cross-yen pairs, which rebounded after the yen’s strength failed to hold?

Market Report

  1. homeHOME
  2. Market Report
  3. Should we be wary of the price movements in cross-yen pairs, which rebounded after the yen’s strength failed to hold?

Should we be wary of the price movements in cross-yen pairs, which rebounded after the yen’s strength failed to hold?

23.11.2023

Today's Highlights
  1. UK Manufacturing/Services PMI (Preliminary)
  2. New Zealand: Third-Quarter Retail Sales

In the previous day’s U.S. currency trading, the U.S. dollar lost momentum toward the end of the U.S. trading session after the October existing home sales figure, released during U.S. trading hours, fell to 3.79 million from 3.96 million the previous month. The USD/JPY pair rose from 148.027 to 149.742 before falling back to 149.037.On the hourly chart, USD/JPY has formed an uptrend along the 20-day moving average (MA), while on the daily chart, the 75-day MA is acting as support, causing the pair to rebound. We will monitor price movements during U.S. trading hours to see if the U.S. dollar continues to rebound.

Ahead of today’s release of the minutes from the European Central Bank (ECB) Governing Council meeting, the euro rose against the yen. As the USD/JPY pair rebounded, the EUR/JPY pair followed suit, climbing from 161.592 to 162.935. Although it had been trading below the 20-period moving average (MA) on the 4-hour chart, it has now moved back above it.Since the EUR/JPY pair has rebounded firmly after touching the daily 20-day moving average, it will be worth watching whether it continues to rise heading into next week.

Today, at 4:00 PM, Norway’s Q3 GDP will be released; at 5:15 PM, France’s Manufacturing/Services PMI (flash estimates); at 5:30 PM, Germany’s Manufacturing/Services PMI (flash estimates); at 6:00 PM, the Eurozone’s Manufacturing/Services PMI (flash estimates);at 6:30 PM UK Manufacturing/Services PMI (flash estimates), at 8:00 PM Turkey’s TCMB policy rate and statement, and Israel’s industrial production, at 9:30 PM the release of the ECB meeting minutes, and at 6:45 AM the following day New Zealand’s Q3 retail sales. We should remain cautious regarding the movement of cross-yen pairs, which have rebounded and risen after the yen’s strength failed to hold.

桜井 慶介

Author: Keisuke Sakurai

I have over 10 years of experience in FX trading. In the financial sector, I have focused primarily on foreign exchange trading and have also worked as an investment advisor. Drawing on my extensive experience, I specialize in technical and fundamental analysis.

Previous post

Market participants may be wary of further downside potential for the euro, which has already weakened following remarks by ECB President Lagarde

Next Article

Will the EUR/USD pair start moving even as volatility declines in U.S. trading hours, or will it remain on the sidelines?

High Leverage at Exness!

Top-tier specs for experienced traders

Open Live Account
Legal, Risk Warning & Restricted Areas

Risk Warning

CFDs are leveraged products and carry a high level of risk. They may not be suitable for all investors. The value of investments may rise or fall, and you may lose all of your invested capital. Exness shall not be liable under any circumstances for any direct or indirect losses or damages incurred by individuals or entities trading CFDs.Read more

  1. Legal Documents
  2. Risk Disclosure
  3. Preventing Money Laundering
  4. Privacy Policy
Exness
This website (Exness New Account Opening Promotion) is operated by FXPLUS LLC and is not owned or managed by Exness. FXPLUS LLC runs this campaign on behalf of Exness.

Information provider: FXPLUS LLC

Address: Georgia, Tbilisi, Krtsanisi district, Nino and Ilia Nakashidze St., N 1, (Avlevi block), flat N3, building N3

Company number: 404695255

  1. Operating Company
  2. Terms of Use
  3. Privacy Policy
  4. Copyright

Copyright(c) 2010-2026 FXplus. All rights reserved.

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 to Home Screen" 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 are 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" 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
US Dollar/Japanese Yen
Gold/US Dollar
Bitcoin/US Dollar
US Dollar/Japanese Yen
Gold/US Dollar
Bitcoin/US Dollar
Close
Click here for a description of each notification
arrow Return to Notification Settings
close
Details of each notification
line Receive key indicators 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 Receive a round number notification

A feature that sends notifications when a price reaches a round number. These notifications help traders identify trading opportunities and manage risk, making them a popular tool among many traders.

polygon US Dollar/Japanese Yen

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

polygon Gold/US Dollar

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).

polygon Bitcoin/US Dollar

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

line Receive notifications of sudden price fluctuations (sharp rises or falls in exchange rates)

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

polygon US Dollar/Japanese Yen

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

polygon Gold/US Dollar

You will receive a notification when the price fluctuates by more than $20 within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon Bitcoin/US Dollar

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

Return to Notification Settings