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Be on the lookout for sharp price fluctuations amid declining volatility

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Be on the lookout for sharp price fluctuations amid declining volatility

24.12.2024

Today's Highlights
  1. Richmond Fed Manufacturing Index
  2. Hao: RBA Minutes Released

In the U.S. currency market yesterday, the U.S. dollar rose against the yen.The USD/JPY pair rose from 156.310 to 157.266. An uptrend has emerged along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, prices are trending upward while finding solid support at the 10-period MA, and on the daily chart, the RSI is holding steady around 66. We will be closely monitoring the sustainability of the US dollar’s upward momentum against the yen.

European currencies saw the euro rise slightly against the yen after Germany’s November import price index, released yesterday, improved from a year-on-year decline of 0.8% to a 0.6% increase.The EUR/JPY pair traded between 162.850 and 163.620, moving above the 20-period moving average (MA) on the hourly chart. On the daily chart, the pair has broken through the resistance zone formed by the 200-period exponential moving average (EMA), and it will be worth watching whether the 200-EMA will now act as a support level.

Today’s key events include the release of the minutes from the Bank of Japan (BOJ) meeting at 8:50 a.m., the release of the minutes from the Reserve Bank of Australia (RBA) meeting at 9:30 a.m., the Richmond Fed Manufacturing Index at 12:00 a.m., and the U.S. 5-year Treasury auction at 1:30 a.m. As today is the day before Christmas, major markets in Europe and the U.S. will have shortened trading hours. Please exercise extreme caution regarding sudden price fluctuations amid low volatility.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has focused primarily on foreign exchange trading and also has experience as an investment advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous article

Unlike other yen crosses, attention may turn to the upside potential of the rising EUR/JPY pair

Next Article

Will the market wait and see how currency strength plays out after the market closes?

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

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