Market participants are likely watching for further upside potential in the U.S. dollar following strong U.S. JOLTS job openings data

Market participants are likely watching for further upside potential in the U.S. dollar following strong U.S. JOLTS job openings data

12.03.2025

In the U.S. currency market yesterday, the U.S. dollar rose against the yen after the January JOLTS job openings report, released yesterday, came in at 7.74 million—exceeding market expectations of 7.67 million and rising from the previous month’s 7.6 million.The USD/JPY pair rose from 146.553 to 148.119. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price has recovered from the -2σ to the +2σ levels of the Bollinger Bands, and on the daily chart, the RSI has rebounded from the 30 level.

Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair traded between 166.808 and 168.272. Price action was seen moving across the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is rising while forming higher lows, and on the daily chart, it appears poised to break above the 20-period MA, which had previously acted as resistance. We will be watching price action during U.S. trading hours to see if the Swiss franc continues to strengthen against the yen.

Today’s key events include the Japan Q1 Business Sentiment Index (BSI) at 8:50, remarks by ECB President Lagarde at 17:45, the U.S. MBA Mortgage Applications Index at 20:00, the U.S. Consumer Price Index at 21:30, and the Bank of Canada’s policy rate decision and statement at 22:45,remarks by German Bundesbank President Nagel, U.S. weekly crude oil inventories at 11:30 PM, a press conference by Bank of Canada Governor McClem at 1:00 AM, a U.S. 10-year Treasury auction at 2:00 AM, and the U.S. budget balance at 3:00 AM. We will be watching for upside potential in the U.S. dollar, which rose on the back of strong U.S. JOLTS job openings data.

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