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Should We Wait and See How Much Further the Franc-Yen Pair Can Rise?

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Should We Wait and See How Much Further the Franc-Yen Pair Can Rise?

28.04.2025

Today's Highlights
  1. Dallas Fed Manufacturing Activity Index
  2. No remarks by dignitaries are scheduled.

Last weekend, the Canadian dollar emerged as one of the strongest currencies alongside the U.S. dollar during U.S. trading hours, as 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.The pair rebounded upon touching the 200-period SMA on the hourly chart. On the 4-hour chart, it is currently attempting to break above the resistance zone formed by the 200-period SMA, and 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 rose from 172.041 to 173.656. It recovered from the -3σ to +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 an engulfing bullish candle that has enveloped the last 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 19:00 and the U.S. Dallas Fed Manufacturing Activity Index at 23:30. Aside from these, no major economic releases or statements by key figures are currently scheduled. We will cautiously monitor the upside potential of the CHF/JPY pair, which has risen significantly.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management with a particular focus on foreign exchange markets, and he also has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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