It may be worth keeping an eye on the upside potential of the broadly rising yen crosses

It may be worth keeping an eye on the upside potential of the broadly rising yen crosses

13.02.2024

In the previous day’s U.S. trading session, the Canadian dollar rose. The CAD/JPY pair, which had been falling through the European session, rebounded once U.S. trading began, rising from 110.567 to 111.196. On the 4-hour chart, the CAD/JPY pair has rebounded and risen with the 20-period moving average (MA) acting as support. Therefore, we will be watching to see if the Canadian dollar’s momentum continues along the 4-hour MA during today’s U.S. trading session.

Among European currencies, the pound saw a seesaw movement against the yen. GBP/JPY fell to 187.847 before rebounding to 188.719, setting a new intraday high. On the weekly chart, GBP/JPY has entered a phase where it is testing the possibility of surpassing last year’s high, so we will be watching to see if it breaks that high and whether the pound’s momentum against the yen continues.

Today’s economic indicators include Sweden’s unemployment rate at 2:30 p.m., France’s unemployment rate at 3:30 p.m., the UK’s employment statistics at 4:00 p.m., and Turkey’s current account balance,at 4:30 PM: Switzerland’s Consumer Price Index; at 7:00 PM: Germany’s ZEW Economic Sentiment Index; at 8:00 PM: the U.S. NFIB Small Business Optimism Index; at 10:00 PM: the Philippines’ Current Account Balance; and at 10:30 PM: the U.S. Consumer Price Index and U.S. Redbook Large Retailer Sales. We will carefully monitor the upside potential of cross-yen pairs, which have been generally rising.

Past Market Reports

1. 20.04.2026New

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

2. 17.04.2026New

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

3. 16.04.2026New

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

4. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 14.04.2026New

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

6. 13.04.2026

   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. 10.04.2026

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

8. 09.04.2026

   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. 08.04.2026

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

10. 07.04.2026

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