Market participants are likely to keep a close eye on the upside potential of the euro against the yen
13.11.2024
- U.S. Consumer Price Index
- U.S. Fiscal Balance
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 be watching 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, while 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 price index at 8:50, Australia’s corporate wages at 9:30, France’s employment statistics at 15:30, and at 19:00, the Eurozone’sIndustrial Production, 9:00 PM: US MBA Mortgage Applications Index, 10:30 PM: US Consumer Price Index, remarks by Kashkari, President of the Minneapolis Fed, 11:30 PM: remarks by Williams, President of the New York Fed, 1:00 AM: Russian Consumer Price Index, and 4:00 AM: US Budget Balance.We want to carefully assess the upside potential for the euro, which has risen against the yen.
Author: Keisuke Sakurai
