Should We Keep an Eye on the Upside Potential for the Swiss Franc, Which Has Risen Against the Yen?

Should We Keep an Eye on the Upside Potential for the Swiss Franc, Which Has Risen Against the Yen?

10.03.2025

In the U.S. currency markets last weekend, the Canadian dollar weakened immediately following the release of Canada’s February employment statistics on the 7th, as the unemployment rate remained unchanged from the previous month at 6.6% and the number of employed persons fell sharply from 76,000 in the previous month to 11,000.The CAD/JPY pair fell from 103.641 to 101.923. It encountered resistance at the 75-period moving average (MA) on the hourly chart and reversed lower. On the 4-hour chart, the price has shifted from above the 20-period MA to below it, and on the daily chart, the downtrend along the 10-period MA continues.

Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair rose from 167.140 to 168.351.The pair rose along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, it has been gradually forming higher lows, and on the daily chart, it has moved above the 20-period MA. The RSI has recovered to around 50. We will be watching to see if the Swiss franc maintains its momentum and continues to rise against the yen.

Today’s economic indicators include Japan’s Monthly Labor Survey at 8:30, Japan’s Balance of Payments at 8:50, Japan’s Economic Trend Index at 14:00, Japan’s Economic Watchers Survey at 15:00, Germany’sIndustrial Production and Trade Balance at 16:00, remarks by German Bundesbank President Nagel at 22:00, and New Zealand Manufacturing Activity at 6:45 the following day. We will be watching for upside potential in the Swiss franc, which has risen against the yen.