All eyes are on whether the CHF/JPY pair, which has risen for five consecutive days, will continue to climb without a pullback

All eyes are on whether the CHF/JPY pair, which has risen for five consecutive days, will continue to climb without a pullback

19.06.2024

In U.S. trading yesterday, the dollar weakened after Chicago Fed President Goolsbee stated that "inflation could slow further within the year." The USD/JPY pair fell from 158.217 to 157.630, moving across the 20-period moving average on the hourly chart.On the 4-hour chart, the pair continues to trade above the 10-period moving average (MA). On the daily chart, it has diverged from the 10-period MA, with the candlestick extending up to the +2σ level of the Bollinger Bands.

Among European currencies, the Swiss franc emerged as the strongest. The CHF/JPY pair rose for the fifth consecutive day, climbing from 177.072 to 178.750. On the hourly chart, a steady upward trend along the 20-day moving average is evident, while the 4-hour chart shows the price moving along the upper band of the Bollinger Bands near the +2σ level. However, on the daily chart, the RSI has surged to 84, so traders should be wary of a potential correction during European trading hours.

Today’s economic indicators include Japan’s trade balance (customs-based) at 8:50, Indonesia’s trade balance at 13:00, the UK’s Consumer Price Index (CPI), Retail Price Index (RPI), and Producer Price Index (PPI) at 15:00, South Africa’s CPI and the Eurozone’s current account balance at 17:00,at 6:00 PM: Eurozone Construction Output; at 8:00 PM: South Africa Retail Sales and U.S. MBA Mortgage Applications; at 6:30 AM the following day: Brazil Policy Rate and Statement; and at 7:45 AM: New Zealand Real GDP. We will closely monitor whether the CHF/JPY pair, which has risen for five consecutive days, will continue its upward trend without a correction.

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