Market participants may be waiting to see how much further the USD/JPY pair can rise following the release of U.S. PPI data

Market participants may be waiting to see how much further the USD/JPY pair can rise following the release of U.S. PPI data

14.10.2024

Last weekend, the U.S. dollar rose against the yen after the U.S. Producer Price Index (PPI), released on Friday the 11th, came in at 1.8% year-over-year—a 0.1 percentage point increase from the previous month’s 1.7%.The USD/JPY pair rose from 148.403 to 149.278. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the 20-period MA is acting as support, while on the daily chart, the price has extended just below the 200-period exponential moving average (EMA).

Despite the fact that the UK’s August industrial production figures, released on the 11th, showed a year-on-year decline of 1.6%—a worsening from the previous month’s 1.2% drop—the pound rose against the yen.GBP/JPY rose from 193.816 to 195.224, moving upward along the +2σ line of the hourly Bollinger Bands. On the 4-hour chart, it is trading above the 20-day moving average, and on the daily chart, it has remained at the same level for seven consecutive trading days.

Today’s schedule includes: Singapore’s real GDP at 9:00, Sweden’s expected price trends at 13:30, India’s wholesale price index and Switzerland’s producer import prices at 15:30, the Czech Republic’s current account balance at 17:00, India’s consumer price index, the Philippines’ current account balance, and Mexico’s consumer confidence index at 21:00, and Russia’sTrade Balance, US: Kashkari (Minneapolis Fed President) remarks, 28:00 US: Waller (Fed Governor) remarks, and 30:00 South Korea: Import/Export Price Growth Rate. We will closely monitor the upside potential for USD/JPY, which rose following the US PPI release.

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