With U.S. markets closed, should we wait and see where the USD/JPY pair is headed?

With U.S. markets closed, should we wait and see where the USD/JPY pair is headed?

03.09.2024

In the currency markets yesterday, the U.S. dollar rose against the yen despite the U.S. stock market being closed. The USD/JPY pair rose from 145.767 to 147.209. It bounced off the 20-period moving average (MA) on the hourly chart, which acted as a support level. On the 4-hour chart, the pair has already broken above the 75-period MA resistance line, and on the daily chart, it is positioned just below the 20-period MA. We will be watching to see if the U.S. dollar continues to rise against the yen.

European currencies saw the euro rise slightly against the U.S. dollar after Germany’s final August manufacturing PMI was revised upward from 42.1 in the previous month to 42.4, as announced yesterday.The EUR/USD pair rose from 1.1040 to 1.1077. It broke out from below the 20-period moving average (MA) on the hourly chart to trade above it. On the 4-hour chart, the 20-period MA remains a resistance level, and during today’s Asian session, the pair is falling back with enough momentum to potentially offset yesterday’s gains.

Today’s economic indicators include South Korea’s Consumer Price Index at 8:00, the UK’s BRC Retail Sales at 8:01, Japan’s Monetary Base at 8:50, Australia’s Current Account Balance at 10:30, Switzerland’s Consumer Price Index at 15:30, France’s Budget Balance at 15:45, and Switzerland’s Q2 Real GDP at 16:00,Turkey’s CPI, South Africa’s real GDP at 6:30 PM, Mexico’s employment report and Brazil’s real GDP at 9:00 PM, the U.S. PMI at 10:45 PM, U.S. construction spending and the U.S. ISM Manufacturing Index at 11:00 PM, and remarks by German Bundesbank President Nagel at 1:45 AM.With U.S. markets closed, we will carefully monitor the direction of the USD/JPY pair, which has been trading firm.

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