Will the renewed trend toward a stronger yen continue? Market participants are keeping a close eye on price movements during U.S. trading hours.
11.04.2025
- UK Manufacturing Output
- U.S. Producer Price Index
In the previous day’s U.S. currency trading, the U.S. dollar became the weakest currency from European to U.S. trading hours. The EUR/USD pair rose from 1.0932 to 1.1240, forming an uptrend along the 10-period moving average on the hourly chart. On the 4-hour chart, a band walk along the +3σ line of the Bollinger Bands was observed, and the pair has continued to hit new highs during today’s Asian trading session.
Among European currencies, the pound fell against the yen. GBP/JPY dropped from 189.593 to 186.364.The 20-period moving average on the hourly chart has shifted from above to below the price. On the 4-hour chart, the pair is fluctuating around the 187 yen psychological level, while on the daily chart, the RSI is hovering near 40, indicating that the market is still searching for direction. We will be watching closely to see if the pound’s weakness continues into the U.S. trading session.
Today’s schedule includes Japan’s money supply at 8:50, the UK’s monthly GDP and Germany’s consumer price index at 15:00, and the UK’sIndustrial Production, UK Manufacturing Output, and UK Trade Balance; at 18:45, remarks by ECB President Lagarde; at 21:30, US Producer Price Index; at 23:00, US University of Michigan Consumer Sentiment Index and remarks by St. Louis Fed President Musalem; and at 24:00, remarks by New York Fed President Williams.We will closely monitor price movements during U.S. trading hours to determine whether the recent trend of yen appreciation will continue.
Author: Keisuke Sakurai
