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Will the Canadian dollar, which has risen against the yen, reach a new high? Caution is advised.

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Will the Canadian dollar, which has risen against the yen, reach a new high? Caution is advised.

28.08.2025

Today's Highlights
  1. Japan: Foreign and Domestic Securities Investment
  2. U.S. GDP Deflator

In U.S. currency trading the previous day, the Canadian dollar was the strongest against the U.S. dollar during U.S. trading hours. The CAD/JPY pair rose from 106.343 to 107.001.The pair rose, finding support at the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, it is attempting to break to new highs just below the 200-period exponential moving average (EMA), while on the daily chart, the 200-period simple moving average (SMA) is acting as a support level, and the price is currently trending upward. We will be watching for economic data releases during U.S. trading hours to see if the Canadian dollar’s rally will continue.

Among European currencies, the euro saw a back-and-forth movement against the U.S. dollar. The EUR/USD pair traded between 1.1574 and 1.1646. It showed a recovery from the -3σ level of the hourly Bollinger Bands.On the 4-hour chart, price action is seeking direction near the 20-period moving average (MA). Similarly, on the daily chart, the price is stagnating around 1.165, just below the 20-period MA.

Today’s schedule includes Japan’s Foreign and Domestic Securities Investment at 8:50, New Zealand’s ANZ Business Confidence Index at 10:00, remarks by Bank of Japan Board Member Nakagawa at 10:30, Eurozone Money Supply at 17:00, Eurozone Consumer Confidence Index at 18:00, EurozoneBusiness Climate Index, at 18:30: South Africa’s Producer Price Index, at 20:30: Eurozone ECB Governing Council Meeting Minutes, at 21:30: U.S. Initial Jobless Claims, Canada’s Current Account,U.S. real GDP, U.S. personal consumption, and U.S. GDP deflator; at 23:00, U.S. pending home sales; and at 24:00, the U.S. Kansas City Fed Manufacturing Activity Index. We should remain vigilant regarding the direction of the Canadian dollar, which has risen against the yen, to see if it will reach new highs.

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 focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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