Should we wait and see how prices move at the end of the month amid the current trend of a stronger yen?

Should we wait and see how prices move at the end of the month amid the current trend of a stronger yen?

28.11.2023

In the U.S. currency market yesterday, despite the absence of major economic indicators or significant comments from officials, the U.S. dollar became the weakest currency toward the close. The EUR/USD pair rose slightly from 1.0925 to 1.0959. The 20-period moving average on the 4-hour chart acted as a support level, triggering a rebound. On the daily chart, although the RSI has risen above 70, the upward trend remains intact, so we will be watching for potential gains during European trading hours.

European currencies fell against the yen yesterday after ECB President Lagarde stated that "overall inflation is likely to rise again in the coming months." This was driven by concerns over the European economy and a potential resurgence in interest rates.The EUR/JPY pair fell by just under 120 pips from 163.717 to 162.546. It broke below the 75-period moving average on the 4-hour chart. Furthermore, the yen has continued to strengthen during today’s Asian trading session, and the EUR/JPY pair appears poised to break below the 162 yen level.

Today’s schedule includes the German GfK Consumer Confidence Index at 4:00 PM, the French Consumer Confidence Index at 4:45 PM, remarks by German Bundesbank President Nagel at 5:00 PM, the Eurozone Money Supply at 6:00 PM, the Brazilian Extended Consumer Price Index at 9:00 PM, the U.S. Housing Price Index at 11:00 PM,the U.S. S&P Case-Shiller Home Price Index at 11:00 PM, the U.S. Richmond Fed Manufacturing Index at 12:00 AM, remarks by U.S. Chicago Fed President Goolsbee at 12:30 AM, the U.S. Dallas Services Sales Index at 1:00 AM, remarks by European Central Bank President Lagarde at 3:00 AM, and a U.S. 7-year Treasury auction at 4:00 AM.Given the current trend toward a stronger yen, we intend to carefully monitor price movements at the end of the month.

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