All eyes are on whether the U.S. dollar, which has become the strongest currency in U.S. time, will maintain its momentum

All eyes are on whether the U.S. dollar, which has become the strongest currency in U.S. time, will maintain its momentum

22.10.2024

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen despite the fact that the U.S. Leading Economic Index for September, released yesterday, came in at -0.5%—down from the previous month’s -0.2% and below market expectations.The USD/JPY pair rose from 149.086 to 150.880. A band walk along the +2σ line of the hourly Bollinger Bands was observed. On the 4-hour chart, the RSI has risen to 70, and on the daily chart, the 200-day EMA is acting as a support level, driving a strong upward trend.

Despite the fact that Germany’s September producer price index, released yesterday, worsened year-over-year from -0.8% in the previous month to -1.4%, the euro rose against the yen.The EUR/JPY pair rose from 161.996 to 163.451, breaking through the upper resistance zone of the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the price has extended to the +2σ level of the Bollinger Bands, while on the daily chart, the 20-period moving average (MA) is emerging as a support line.

Today, at 3:00 PM, UK public sector net debt; at 5:00 PM, Philippine retail sales; at 5:30 PM, Hong Kong Consumer Price Index; at 9:00 PM, Hungary’s policy rate and statement;Mexico’s Economic Activity Index at 5:30 PM, Canada’s Industrial Product Prices and Producer Price Index at 9:30 PM, remarks by Bank of England Governor Bailey at 10:25 PM, the Richmond Fed Manufacturing Index and remarks by Philadelphia Fed President Harker at 11:00 PM, and South Korea’s Consumer Confidence Index at 11:30 PM.We will closely monitor whether the U.S. dollar, which has become the strongest currency in U.S. time, will maintain its momentum.

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