Will the market wait and see how much further the Swiss franc will rise?

Will the market wait and see how much further the Swiss franc will rise?

21.05.2025

In U.S. trading yesterday, the U.S. dollar weakened against the yen. The USD/JPY pair fell from 145.496 to 144.105. On the hourly chart, the price dropped from the +3σ to the -3σ Bollinger Band. On the 4-hour chart, the pair is currently attempting to break below the 200-period SMA support line, and on the daily chart, it has been falling for six consecutive days. We will be watching closely to see if the dollar’s weakness continues during today’s U.S. trading session.

Among European currencies, the Swiss franc emerged as the strongest toward the end of U.S. trading hours. The CHF/JPY pair rose from 173.120 to 174.421. It has rebounded from the -3σ to +2σ levels on the hourly Bollinger Bands. On the 4-hour chart, the 200-period EMA is acting as support, and on the daily chart, the pair has rebounded from this month’s lows. We will be watching to see if the Swiss franc maintains its momentum during today’s European trading session.

Today’s schedule includes Japan’s trade balance (customs-cleared basis) at 8:50, Australia’s Westpac Leading Index at 9:30, the UK’s Consumer Price Index and Retail Price Index at 15:00, South Africa’s Consumer Price Index at 17:00, the U.S. MBA Mortgage Applications Index and South Africa’s retail sales at 20:00,at 11:30 PM: U.S. weekly crude oil inventories; at 1:15 AM: remarks by U.S. Richmond Fed President Barkin; at 1:20 AM: remarks by U.S. Federal Reserve Governor Bowman; and at 2:00 AM: U.S. 20-year Treasury auction. We intend to cautiously monitor the upside potential of the Swiss franc, which has risen.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   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

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   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?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?