Market participants are likely keeping a close eye on the upside potential of the euro against the yen

Market participants are likely keeping a close eye on the upside potential of the euro against the yen

13.11.2024

In yesterday’s U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 109.994 to 111.063. It rebounded after finding support at the 200-period EMA on the hourly chart. On the 4-hour chart, the RSI has risen to near 70, and on the daily chart, the pair has begun to rebound from the 20-period MA. We will need to monitor the direction closely to see if the Canadian dollar continues to rise against the yen.

Among European currencies, the euro rose against the yen. The EUR/JPY pair climbed from 163.233 to 164.309. On the hourly chart, the price has moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the 200-period simple moving average (SMA) is firmly acting as a support level, and on the daily chart, the 200-period exponential moving average (EMA) is providing support. We will be watching to see if the euro continues to rise during European trading hours.

Today’s economic indicators include South Korea’s employment statistics at 8:00, Japan’s domestic corporate goods prices at 8:50, Australia’s corporate wages at 9:30, France’s employment statistics at 15:30, and the Eurozone’sIndustrial Production at 7:30 PM, the U.S. MBA Mortgage Applications Index at 9:00 PM, the U.S. Consumer Price Index at 10:30 PM, remarks by U.S. Federal Reserve Bank of Minneapolis President Kashkari at 11:30 PM, remarks by U.S. Federal Reserve Bank of New York President Williams at 1:00 AM, the Russian Consumer Price Index at 3:00 AM, and the U.S. Budget Balance at 4:00 AM.We want to carefully assess the upside potential for the euro, which has risen 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