Attention is turning to the upside potential of the Swiss franc, which has risen against the yen

Attention is turning to the upside potential of the Swiss franc, which has risen against the yen

10.03.2025

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 to 11,000. The CAD/JPY pair fell from 103.641 to 101.923. It encountered resistance at the 75-period moving average on the hourly chart and reversed lower.On the 4-hour chart, the price has shifted from above the 20-period moving average to below it, and on the daily chart, the downtrend along the 10-period moving average continues.

Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair climbed from 167.140 to 168.351, moving higher along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair 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 closely 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 a.m., Japan’s Balance of Payments at 8:50 a.m., Japan’s Leading Economic Index at 2:00 p.m., Japan’s Economic Watchers Survey at 3:00 p.m., Germany’s Industrial Production and Trade Balance at 4:00 p.m., remarks by German Bundesbank President Nagel at 10:00 p.m., and New Zealand’s Manufacturing Activity at 6:45 a.m. the following day.We will be watching for upside potential in the Swiss franc, which has risen against the yen.