Investors are likely to keep a close eye on the euro/yen pair, which has shown mixed trends among the yen crosses
25.06.2024
- Canada: Consumer Price Index
- U.S. Conference Board Consumer Confidence Index
In yesterday's U.S. currency trading, the U.S. dollar fell against the yen. The USD/JPY pair dropped from 159.921 to 158.743. It is currently trading around 159.375 during Asian trading hours.On the hourly chart, the price is moving from above the 20-period moving average (MA) to below it, while on the 4-hour chart, it remains above the 20-period MA. On the daily chart, the RSI is beginning to decline from just below 70, so we should watch for a potential decline during U.S. trading hours.
Among European currencies, the euro rose against the yen. The EUR/JPY pair climbed from 170.279 to 171.445. The rise followed the 10-period moving average (MA) on the hourly chart. On the 4-hour chart, the price rebounded from the 20-period MA, and the daily chart has now recorded six consecutive bullish candles. We will be watching closely to see if the euro’s rise against the yen continues during European trading hours.
Today’s schedule includes the Australian Westpac Consumer Confidence Index at 9:30, the Malaysian Consumer Price Index at 13:00, the Japanese Leading Economic Index at 14:00, the Hong Kong Trade Balance at 17:30, the Canadian Consumer Price Index at 21:30, the U.S. Housing Price Index and the S&P/Case-Shiller Home Price Index at 22:00,the U.S. Conference Board Consumer Confidence Index at 11:00 PM, the U.S. Richmond Fed Manufacturing Index at 11:00 PM, remarks by U.S. Federal Reserve Governor Cook at 1:00 AM, and remarks by German Bundesbank President Nagel at 2:15 AM. Among the yen crosses, I plan to carefully monitor the movements of the euro/yen pair, which has shown mixed directional trends.
Author: Keisuke Sakurai
