Will the falling CAD/JPY pair rebound? All eyes are on price movements during U.S. trading hours.
08.08.2025
- Japan's Comprehensive Household Expenditure Survey
- Japan Economic Watchers Survey
In the U.S. currency market yesterday, the Canadian dollar fell against the yen despite the fact that Canada’s July Ivey Purchasing Managers’ Index, released yesterday, improved to 55.8 from 53.3 the previous month. The CAD/JPY pair fell from 107.512 to 106.894.On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the price is searching for direction just below a zone where short- and long-term MAs converge, while on the daily chart, it is currently attempting to break below the support level near the 200-period simple moving average (SMA).
European currencies saw the euro fluctuate against the yen as Germany’s June industrial production deteriorated year-over-year, falling from the previous month’s 1.0% to -3.6%.The euro/yen pair traded between 171.276 and 172.168, with price action consistently fluctuating around the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is currently facing resistance at the +2σ level of the Bollinger Bands, while on the daily chart, it is hovering just below the 20-period MA, awaiting the next trend.
Today’s economic indicators include the Japan Household Expenditure Survey at 8:30, the release of key opinions from the Bank of Japan’s Monetary Policy Meeting at 8:50, Japan’s Balance of Payments,at 14:00, the Japan Economic Watchers Survey; at 20:15, remarks by MPC member Pill (UK); at 21:30, the Canada Employment Report; and at 23:20, remarks by Musalem, President of the St. Louis Fed (U.S.).We’ll be watching price movements during U.S. trading hours to see if the Canadian dollar/yen pair, which has been falling, will show signs of recovery.
Author: Keisuke Sakurai
