Should we focus on the upside potential of the rising CHF/JPY pair?

Should we focus on the upside potential of the rising CHF/JPY pair?

26.11.2024

In yesterday’s U.S. currency trading, the dollar fluctuated against the yen. The USD/JPY pair traded between 153.548 and 154.718, with price action straddling the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the upside is being resisted by the 20-period moving average (MA), while on the daily chart, the pair appears poised to break below the 20-MA, which had previously served as support. Furthermore, during today’s Asian session, the pair has been falling with enough momentum to potentially break below yesterday’s low, so we should pay close attention to price action during the U.S. session.

Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair climbed from 172.630 to 174.054. 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 price has recovered to just below the 20-period MA, while on the daily chart, the 200-period simple moving average (SMA) is acting as support. However, as resistance has been strong during today’s Asian session, we will be closely monitoring price movements during the European session.

Today’s economic indicators include the Japan Corporate Services Price Index at 8:50, Singapore Industrial Production at 14:00, Hong Kong Trade Balance at 17:30, Brazil Extended Consumer Price Index at 21:00, remarks by BOC Deputy Governor Mendes at 22:05, and the U.S.U.S. Housing Price Index and U.S. S&P Case-Shiller Home Price Index at 17:30, U.S. Richmond Fed Manufacturing Index and U.S. New Home Sales at 24:00, U.S. 5-Year Treasury Auction at 27:00, and the release of the U.S. FOMC Minutes at 28:00. We will be watching for upside potential in the CHF/JPY pair, which has been rising.

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