Market participants are likely watching the direction of the U.S. dollar, which has weakened against the yen

Market participants are likely watching the direction of the U.S. dollar, which has weakened against the yen

12.08.2024

Last weekend, the U.S. dollar weakened against the yen. The USD/JPY pair fell from 147.876 to 146.284. On the hourly chart, the price dropped from above the 20-period moving average (MA) to below it. On the 4-hour chart, the 20-period MA is barely holding as a support level. On the daily chart, the RSI remains below 30, so we will be watching closely to see if the dollar recovers during European trading hours.

Among European currencies, the Swiss franc fell against the yen. The CHF/JPY pair dropped from 170.489 to 169.309. The decline occurred as the pair was capped by the +2σ line of the hourly Bollinger Bands. Although it remains below the 20-period moving average on the 4-hour chart, a rebound occurred during today’s Asian trading session, and the daily chart shows an uptrend emerging from below the 200-period simple moving average.

Today’s key economic indicators include Sweden’s Producer Price Index at 1:30 p.m., Turkey’s Employment Statistics and the Czech Republic’s Consumer Price Index at 4:00 p.m., India’s Consumer Price Index and Mexico’s Consumer Confidence Index at 9:00 p.m., India’s Industrial Production at 9:00 p.m., Russia’s trade balance at 24:30, and the U.S. 6-month Treasury bill auction at 27:00. We want to carefully assess the direction of the U.S. dollar, which has weakened against the yen.

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