All eyes are on whether the Euro/Yen pair, which has rebounded, will continue to hit new highs

All eyes are on whether the Euro/Yen pair, which has rebounded, will continue to hit new highs

29.11.2024

In yesterday’s U.S. currency trading, the U.S. dollar strengthened against the yen. The USD/JPY pair rebounded from 150.846 to 151.939, moving above the 20-period moving average on the hourly chart. However, on the 4-hour chart, the RSI remains at a low level around 37, and during today’s Asian session, the dollar has weakened, falling below the 150 yen mark. We will need to monitor the direction of this trend to see if the dollar continues to weaken and decline against the yen.

European currencies saw the euro rebound against the yen after preliminary data released yesterday showed Germany’s November consumer price index rose to 2.2% year-on-year, up from 2.0% the previous month.The EUR/JPY pair rose slightly from 159.431 to 160.332, with price action crossing the 20-period moving average on the hourly chart. However, since the downtrend along the -2σ Bollinger Band continues on the daily chart, caution is warranted regarding price movements during European trading hours.

Today’s economic indicators include Japan’s employment statistics and Tokyo Consumer Price Index at 8:30, Japan’s industrial production at 8:50, Thailand’s current account balance at 16:00, France’s Producer Price Index and Consumer Price Index at 16:45, and Switzerland’s real GDP at 17:00,Swiss KOF Leading Index, at 5:55 PM: German Employment Statistics, at 7:00 PM: Eurozone Consumer Price Index (HICP), at 7:30 PM: UK BOE Financial Stability Report, at 8:00 PM: UK BOE Governor Bailey’s press conference, at 10:00 PM: Remarks by German Bundesbank President Nagel, and at 10:30 PM: Canadian Real GDP.We will closely monitor whether the rebounding EUR/JPY pair will continue to hit new highs.

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