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Should we wait and see where the Canadian dollar is headed against the yen?

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Should we wait and see where the Canadian dollar is headed against the yen?

15.01.2025

Today's Highlights
  1. U.S. - Barkin: Remarks by the President of the Richmond Federal Reserve Bank
  2. U.S. Consumer Price Index

In yesterday’s U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 109.189 to 110.150, breaking through the resistance line formed by the 200-period simple moving average (SMA) on the hourly chart.On the 4-hour chart, the pair failed to make a new high and has since pulled back, while on the daily chart, the candlestick has reversed just short of the 200-day SMA looming overhead. We will closely monitor whether the Canadian dollar’s momentum holds during U.S. trading hours.

Among European currencies, the euro emerged as the strongest currency during U.S. trading hours. The euro/yen pair rose from 160.976 to 162.882, breaking well above the resistance zone formed by the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the RSI rebounded sharply from 22 to 57. However, during today’s Asian trading session, the euro has weakened again and is offsetting yesterday’s gains.

Today’s schedule includes Japanese machine tool orders at 3:00 PM, UK Consumer Price Index and UK Producer Price Index at 4:00 PM, Eurozone industrial production at 7:00 PM, US MBA Mortgage Applications Index at 9:00 PM, Canadian manufacturing shipments and US Consumer Price Index at 10:30 PM, Canadian existing home sales at 11:00 PM, and US Federal Reserve Bank of Richmond President Barkin’s remarks at 11:20 PM.Richmond Fed President remarks; 12:30 AM: US Weekly Crude Oil Inventories; 1:00 AM: US Williams: NY Fed President remarks. We will closely monitor the direction of the Canadian dollar, which has risen against the yen.

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.

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All eyes are on whether the pound, which has shown signs of a rebound, will sustain its gains

Next Article

Should investors be wary of further downside potential in falling cross-yen pairs?

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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