Should We Wait and See How the Euro/Yen Pairs Play Out?
26.02.2025
- Japan Economic Sentiment Index
- German GFK Consumer Confidence Survey
In the U.S. currency market yesterday, the U.S. dollar fell against the yen despite the fact that the U.S. December Housing Price Index, released yesterday, showed a slight recovery to 0.4% from 0.3% the previous month, and the quarterly figure also came in higher than the previous reading.The USD/JPY pair fell from 150.290 to 148.574. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the downtrend along the 20-period MA continues, and on the daily chart, the RSI has fallen to 32.
European currencies saw the euro trade in a narrow range against the yen after the final figures for Germany’s fourth-quarter real GDP, released yesterday, remained unchanged from the previous reading of -0.2% year-over-year.The euro/yen pair traded between 156.085 and 157.304. Price action was seen straddling the 20-period moving average on the hourly chart. On the 4-hour chart, prices are rising without testing new lows, and the daily chart also shows signs of maintaining upward momentum.
Today, at 9:30, Australia’s Consumer Price Index; at 14:00, Japan’s Economic Sentiment Index and Singapore’s Industrial Production; at 16:00, Thailand’s policy interest rate and statement, and Germany’s GfK Consumer Confidence Survey; at 16:45, France’sConsumer Confidence Index, at 17:00 the South African Consumer Price Index and Taiwan’s Employment Statistics, at 17:30 Taiwan’s Real GDP, at 21:00 the U.S. MBA Mortgage Applications Index, at 22:30 remarks by U.S. Federal Reserve Bank of Richmond PresidentRichmond Fed President, 24:00: U.S. New Home Sales, and 26:00: Russia’s Industrial Production. I intend to carefully monitor the direction of the Euro/Yen pair, which is currently in a tight range.
Author: Keisuke Sakurai
