Should we wait and see if the rising CHF/JPY pair will continue its upward trend?

Should we wait and see if the rising CHF/JPY pair will continue its upward trend?

07.05.2024

In yesterday's U.S. currency trading, the U.S. dollar rose against the yen.The USD/JPY pair rose from 152.7662 to 153.964. The rise followed the 20-period moving average (MA) on the hourly chart. It has continued to rise during today’s Asian session, already touching 154.629. On the 4-hour chart, the RSI is showing neutrality around the 50 level, while on the daily chart, the 75-period MA is acting as support, causing a rebound. We will need to carefully assess whether the US dollar will continue to regain momentum against the yen.

Among European currencies, the Swiss franc weakened during U.S. trading hours. However, it strengthened against the Japanese yen, which had been the weakest currency, with the CHF/JPY pair rising from 168.632 to 170.164. It has continued to hit new highs during today’s Asian trading session. On the 4-hour chart, the 20-period moving average is acting as a support level and is trending upward, so we will be watching closely to see if the franc’s momentum against the yen continues.

Today’s schedule includes the Philippine Consumer Price Index at 10:00, Australian Retail Sales at 10:30, the Thai Consumer Price Index at 12:30, the RBA policy rate decision and statement at 13:30, RBA Governor Block’s press conference at 14:30, Swiss Employment Statistics at 14:45, German Manufacturing Orders and German Trade Balance at 15:00,at 3:45 PM: France’s current account balance and trade balance; at 5:00 PM: Taiwan’s Consumer Price Index; at 5:30 PM: UK Construction PMI; at 6:00 PM: Eurozone retail sales; at 11:00 PM: Canada’s Ivey PMI; at 12:30 AM: U.S. Kashkari:Remarks by Minneapolis Fed President Kashkari, and at 26:00, a US 3-year Treasury auction. I want to watch carefully to see if the rising CHF/JPY pair will extend its gains.

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