All eyes are on whether the rising CAD/JPY pair will continue to climb during U.S. trading hours

All eyes are on whether the rising CAD/JPY pair will continue to climb during U.S. trading hours

14.03.2024

In yesterday’s U.S. trading session, the Canadian dollar rose. The CAD/JPY pair climbed from 109.128 to 109.847, reaching the 200-period EMA on the hourly chart. The upward momentum has continued into today’s Asian session. Since the pair reversed and rose without reaching the 200-period SMA on the daily chart, we will be watching closely to see if the Canadian dollar continues to strengthen against the yen.

Despite the fact that January industrial production in the Eurozone, released yesterday, fell to -6.7% year-on-year from 1.2% the previous month, the euro rose against the U.S. dollar.The EUR/USD pair rose from 1.0919 to 1.0964, reaching the +3σ level of the hourly Bollinger Bands. On the daily chart, the RSI for EUR/USD has risen to around 65, just shy of the 70 overbought threshold, so traders should be on the lookout for a potential price correction.

Today’s economic indicators include UK RICS House Price Index at 9:01, India’s Wholesale Price Index at 15:30, Sweden’s Consumer Price Index at 16:00, Switzerland’s Producer Price Index at 16:30, Hong Kong’s Industrial Production at 17:30, South Africa’s Manufacturing Production at 20:00, Turkey’s Foreign Exchange Reserves at 20:30,21:30: US Initial Jobless Claims, US Retail Sales, Canadian Manufacturing Sales, US Producer Price Index, and 23:00: US Business Inventories. It will be worth watching whether the rising CAD/JPY pair continues to gain ground during US trading hours.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 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?

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed