Should we keep an eye on the upside potential of the Swiss franc, which is rebounding?

Should we keep an eye on the upside potential of the Swiss franc, which is rebounding?

22.08.2024

In the U.S. currency market yesterday, the U.S. dollar fell against the yen after the MBA Mortgage Applications Index, released yesterday, dropped to -10.1% from the previous reading of 16.8%. The USD/JPY pair fell from 146.235 to 144.458. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the 20-period MA is acting as a resistance level, and a similar pattern is observed on the daily chart.

Among European currencies, the Swiss franc, which had been weakening, has recovered. The CHF/JPY pair rose from 169.714 to 170.910, breaking above the resistance line formed by the 200-period SMA on the hourly chart.On the 4-hour chart, the pair has risen from the -3σ to the +2σ Bollinger Bands, and on the daily chart, it appears poised to break above the 200-day SMA resistance line. We will be watching to see if the Swiss franc continues to strengthen against the yen during European trading hours.

Today’s schedule includes Japan’s foreign and domestic securities investment at 8:50, Indonesia’s current account balance at 12:00, Malaysia’s consumer price index at 13:00, India’s manufacturing PMI at 14:00, Norway’s real GDP at 15:00, Turkey’s consumer confidence index at 16:00, and France’sManufacturing/Services PMI, at 4:30 PM Germany’s Manufacturing/Services PMI, at 5:00 PM the Eurozone’s Manufacturing/Services PMI, at 5:30 PM the UK’s Manufacturing/Services PMI, at 9:30 PM U.S. Initial Jobless Claims, at 10:45 PM the U.S. PMI Purchasing Managers’ Index, and at 11:00 PM U.S. Existing Home Sales.We should keep an eye on the upside potential of the Swiss franc, which is rebounding and recovering.

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