Market participants are likely to keep a close eye on the movements of the weakening Japanese yen and Swiss franc

Market participants are likely to keep a close eye on the movements of the weakening Japanese yen and Swiss franc

09.08.2024

In yesterday’s U.S. trading session, the Canadian dollar rose against the yen ahead of today’s U.S. employment report. The CAD/JPY pair climbed from 105.764 to 107.339, recovering to just below the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the 20-period moving average (MA) is providing solid support, and on the daily chart, the RSI has recovered above the 30 level. We will be watching to see if today’s employment report triggers further gains.

Among European currencies, the Swiss franc emerged as the weakest currency alongside the Japanese yen. While other yen crosses rose, the franc-yen pair remained range-bound. It fluctuated between 169.603 and 170.808, moving back and forth across the 20-period moving average on the hourly chart. On the daily chart, it remains below the 200-period simple moving average, while on the weekly chart, it is forming a pin bar with a lower wick.

Today’s economic indicators include Japan’s money supply at 8:50, China’s Producer Price Index and Consumer Price Index at 10:30, Malaysia’s industrial production at 13:00, and France’semployment data at 10:30, Norway’s CPI and Germany’s CPI at 15:00, Turkey’s industrial production at 16:00, Mexico’s industrial production at 21:00, Canada’s employment data at 21:30, and Russia’s CPI and real GDP at 25:00. I intend to closely monitor the trends of the weakening Japanese yen and Swiss franc.

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