Market Participants May Be Watching to See How Much Further the U.S. Dollar Can Rise Against the Yen
20.06.2025
- U.S. Leading Economic Index
- Japan: Consumer Price Index
In the U.S. currency market yesterday, the U.S. dollar rose against the yen. The USD/JPY pair rose from 144.742 to 145.776, with the rally tracking the 10-period moving average on the hourly chart.On the 4-hour chart, the candlesticks have extended to the +2σ level of the Bollinger Bands, and on the daily chart, the pair has hit a new high for the month. We will be watching closely to see if the U.S. dollar continues to rise against the yen.
European currencies rose as the euro strengthened against the U.S. dollar following yesterday’s release of April construction output data for the eurozone, which improved to a year-over-year increase of 3.0% from the previous month’s decline of 1.1%.The EUR/USD pair rose from 1.1446 to 1.1500, rebounding from the -2σ level of the hourly Bollinger Bands. On the 4-hour chart, the pair has already broken above the 20-period moving average (MA), and on the daily chart, the 20-period MA is acting as a support level, leading to a rebound.
Today’s economic indicators include the UK GfK Consumer Confidence Index at 8:01, Japan’s Consumer Price Index at 8:30, UK Retail Sales and Germany’s Producer Price Index at 15:00, remarks by Bank of Japan Governor Ueda at 15:40, and the EurozoneMoney Supply, at 21:30: Canada’s Retail Sales and Industrial Product Prices, and the U.S. Philadelphia Fed Business Outlook Index, and at 23:00: the U.S. Leading Economic Index and the Eurozone Consumer Confidence Index. We intend to cautiously monitor the upside potential of the U.S. dollar, which has risen against the yen.
Author: Keisuke Sakurai
