Investors should keep a close eye on the movements of cross-yen pairs, which appear to be entering a rebound phase following the yen’s appreciation.

Investors should keep a close eye on the movements of cross-yen pairs, which appear to be entering a rebound phase following the yen’s appreciation.

25.12.2023

Last weekend, the U.S. dollar recovered slightly during U.S. trading hours after the release of U.S. November personal income data on Friday, the 22nd, showed an increase to 0.4% from 0.2% the previous month, while personal spending remained unchanged at 0.2%. The EUR/USD pair, which had risen to 1.1040, plummeted to 1.0998.The price fell just below the 20-period moving average on the hourly chart. From a technical perspective, since the EUR/USD has risen to just below the +2σ level of the daily Bollinger Bands, caution is warranted regarding a potential sharp decline in the EUR/USD over the Christmas holiday.

European currencies saw the euro rebound slightly against the yen after Germany’s November import price index, released last weekend, recovered to a year-on-year decline of 9.0% from the previous month’s 13.0% drop. The euro/yen pair rose from 156.134 to 156.994, returning to an upward trend on the 4-hour chart.Since the 200-day SMA is functioning as a solid support line on the daily chart as well, we will be watching closely to see if the euro turns upward against the yen in the final week of 2023.

Aside from the Japanese Economic Sentiment Index scheduled for 2:00 PM and Taiwan’s Industrial Production data at 5:00 PM, no major economic indicators or key speeches are expected today, as markets in Europe and the U.S. are closed for the Christmas holiday. Markets in major European countries such as the UK, Switzerland, and Germany will also remain closed tomorrow. We should pay close attention to the movements of cross-yen pairs, which are currently rebounding from their recent strength.

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