Will the direction of the choppy EUR/JPY pair become clear? All eyes are on price movements during European trading hours.

Will the direction of the choppy EUR/JPY pair become clear? All eyes are on price movements during European trading hours.

22.04.2025

In yesterday’s U.S. currency trading, the U.S. dollar weakened against the euro. The EUR/USD pair rose from 1.1381 to 1.1517. A band walk along the +3σ line of the hourly Bollinger Bands was observed.On the 4-hour chart, the RSI rose to 77.5. Similarly, on the daily chart, the RSI has risen to 77. We will need to monitor price movements during U.S. trading hours to see if the U.S. dollar continues to weaken against the euro.

Among European currencies, the Swiss franc saw a seesaw movement against the yen. The CHF/JPY pair traded between 173.478 and 174.971, with price action fluctuating around the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the pair rebounded after touching the 75-period moving average, while on the daily chart, it has continued to trade at the same level just below the 10-period moving average for about five trading days. It will be worth watching whether the CHF/JPY, which has been in a stalemate, will show clear price movement during European trading hours.

Today’s schedule includes: Canada’s Industrial Product Prices at 9:30 PM, remarks by U.S. Federal Reserve Vice Chair Jefferson at 10:00 PM, remarks by U.S. Federal Reserve Bank of Philadelphia President Harker at 10:30 PM, and the Eurozone’sthe Eurozone Consumer Confidence Index, the U.S. Richmond Fed Manufacturing Index, and remarks by ECB President Lagarde; at 2:00 AM, a U.S. 2-year Treasury auction; at 2:40 AM, remarks by Minneapolis Fed President Kashkari; and at 3:30 AM, remarks by Richmond Fed President Barkin.We will be watching price movements during European trading hours to see if the direction of the range-bound CHF/JPY pair becomes clear.

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