Will the market wait and see how much room the Swiss franc has to recover after weakening following the Japanese yen?
11.08.2025
- South Africa SACCI Business Confidence Index
- Germany's Wholesale Price Index
Last weekend, the U.S. dollar rose against the yen. The USD/JPY pair climbed from 146.717 to 147.904, recovering from the -2σ to the +2σ levels on the hourly Bollinger Bands.On the 4-hour chart, the 200-SMA is acting as a support level, and the pair has rebounded. On the daily chart, the price is currently searching for direction just below the 20-MA. Since the price is trading above the 20-MA on the weekly chart, we will need to closely monitor price movements at the start of the week.
Among European currencies, the Swiss franc weakened slightly, following the Japanese yen. The USD/CHF pair rose from 0.8051 to 0.8088. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, while finding support at the 200-period exponential moving average (EMA), the price is forming lower highs along the 20-period MA. On the daily chart, the price has been trading sideways at the same level for about a week.
Today’s economic indicators include the South African SACCI Business Sentiment Index (time TBD) and the German Wholesale Price Index, with South African Manufacturing Output scheduled for 8:00 PM. No other major economic indicators or key speeches are scheduled in Europe or the U.S. Additionally, Japanese markets are closed today for the Mountain Day holiday. We will carefully monitor the Swiss franc, which has weakened alongside the Japanese yen, to assess its potential for recovery.
Author: Keisuke Sakurai
