Market participants are likely keeping a close eye on the upside potential of the U.S. dollar, which has risen against the yen

Market participants are likely keeping a close eye on the upside potential of the U.S. dollar, which has risen against the yen

10.12.2024

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen. The USD/JPY pair climbed from 149.706 to 151.325. It broke through the key 150-yen level and surged well above the 200-period simple moving average (SMA) on the hourly chart.On the 4-hour chart, the pair is currently attempting to break above the 75-period moving average. On the daily chart, the price is reversing direction in a zone where short- and long-term moving averages are clustered, so traders should pay close attention to price movements following the release of economic indicators during U.S. trading hours.

European currencies saw the euro trade in a narrow range against the U.S. dollar. The EUR/USD pair fluctuated between 1.0532 and 1.0593. It is currently searching for direction near the 75-period moving average on the hourly chart. Notably, during today’s Asian session, the 200-period moving average on the hourly chart acted as support, triggering a rebound; therefore, we will be watching closely to see if the euro gains upward momentum against the U.S. dollar during the European session.

Today’s schedule includes Japan’s money supply at 8:50, Australia’s NAB Business Confidence Index at 9:30, the Philippines’ trade balance at 10:00, the RBA’s policy rate decision and statement at 12:30, Malaysia’s industrial production at 13:00, RBA Governor Block’s press conference at 13:30, Germany’sCPI, 4:00 PM Turkey Employment Statistics, 6:30 PM South Africa Producer Price Index, 9:00 PM Mexico Consumer Confidence Index, and 10:30 PM U.S. Nonfarm Productivity Index. We will carefully assess the upside potential of the U.S. dollar, 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