All eyes are on whether the falling euro-yen pair will recover following the release of economic indicators

All eyes are on whether the falling euro-yen pair will recover following the release of economic indicators

28.11.2024

In yesterday’s U.S. currency trading, the Canadian dollar fell against the yen. The CAD/JPY pair dropped from 109.007 to 107.313. The 20-period moving average on the hourly chart acted as resistance.On the 4-hour chart, the decline along the -2σ Bollinger Band continues, while on the daily chart, the pullback following the rejection at the 200-day moving average persists. We will need to watch whether the Canadian dollar continues to weaken against the yen heading into the weekend.

European currencies fell against the yen after the German GfK Consumer Confidence Index for December, released yesterday, deteriorated from -18.3 in the previous month to -23.3, significantly undershooting the market forecast of -18.7. The euro/yen pair dropped from 160.701 to 159.101, falling along the -2σ line of the hourly Bollinger Bands.On the daily chart, the RSI has fallen to 33.

Today’s economic indicators include Japan’s foreign and domestic securities investment at 8:50, New Zealand’s ANZ Business Confidence at 9:00, Turkey’s trade balance at 16:00, remarks by RBA Governor Block at 17:55, the Eurozone’s money supply at 18:00, the Eurozone’sEconomic Sentiment Index, 10:00 PM Japan time: German Consumer Price Index, 10:30 PM Japan time: Canada Current Account, and 6:00 AM Japan time the following day: New Zealand Consumer Confidence Index. We will be watching closely to see if the falling EUR/JPY pair recovers following these economic releases.

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