Attention is turning to the upside potential of the U.S. dollar, which has risen against both the yen and the euro

Attention is turning to the upside potential of the U.S. dollar, which has risen against both the yen and the euro

26.02.2024

Last weekend, the U.S. dollar saw a seesaw movement against the yen. The USD/JPY pair rose to 150.769 before falling back to 150.293.Price action remained centered around the 20-period moving average on the hourly chart. While the weekly chart has shown four consecutive bullish candles, no divergence has occurred on the weekly RSI. Therefore, it will be worth watching whether the US dollar shows corrective downward movement against the yen at the start of the week.

Despite the German IFO Business Climate Index for February, released on the 23rd, rising slightly from 85.2 the previous month to 85.5, the euro closed with a bullish candle featuring an upper shadow against the U.S. dollar. The EUR/USD pair traded in a narrow range around the 20-period moving average (MA), briefly attempting to rise from the 75-period MA before falling back.A pullback was observed after the pair touched the 200-period SMA on the 4-hour chart. We will closely monitor the direction to see if the euro will continue to pull back against the US dollar.

Today’s schedule includes the Japan Corporate Services Price Index at 8:50, the Singapore Industrial Production Index at 14:00, remarks by BOE Deputy Governor Breeden at 18:00, remarks by MPC Member Pill at 20:00, and the Israel benchmark interest rate at 23:00,U.S. New Home Sales at 10:30 PM, the U.S. Dallas Fed Manufacturing Activity Index at 12:30 AM, the U.S. 2-Year Treasury Auction at 1:30 AM, and the U.S. 5-Year Treasury Auction at 3:00 AM. We will be watching for further upside potential in the U.S. dollar, which has risen against both the yen and the euro.

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