Should we wait and see how much further the CHF/JPY pair can rise?

Should we wait and see how much further the CHF/JPY pair can rise?

28.04.2025

Last weekend, the Canadian dollar emerged as the strongest currency alongside the U.S. dollar during U.S. trading hours after Canada’s February retail sales figures, released on the 25th, showed improvements in both the headline and core indices compared to the previous reading. The CAD/JPY pair rose from 102.837 to 103.946.A rebound occurred upon touching the 200-period SMA on the hourly chart. On the 4-hour chart, the pair is currently attempting to break above the upper resistance zone formed by the 200-period SMA, while on the daily chart, it has broken through the 20-period MA, which had previously acted as resistance.

Among European currencies, the Swiss franc rose against the yen. The CHF/JPY pair climbed from 172.041 to 173.656. It recovered from the -3σ to the +3σ levels on the hourly Bollinger Bands. On the 4-hour chart, the RSI has risen from 33 to 60, and on the daily chart, the price has formed a bullish engulfing candle that has engulfed the previous two trading days. We will be watching price movements during European trading hours to see if the Swiss franc’s momentum holds.

Today’s economic indicators include the UK CBI Retail Trade Survey at 7:00 PM and the Dallas Fed Manufacturing Activity Index at 11:30 PM. Aside from these, no major economic releases or key speeches are currently scheduled. We intend to carefully monitor the upside potential of the CHF/JPY pair, which has risen significantly.

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