Watch for upside potential in the Canadian dollar, which has risen against the yen
25.09.2025
- German GfK Consumer Confidence Survey
- U.S. Second-Quarter GDP
In yesterday’s U.S. currency trading, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 106.567 to 107.201, surging from the -2σ to the +2σ levels on the hourly Bollinger Bands.On the 4-hour chart, the price has moved from below the 200-day SMA to above it, while on the daily chart, it is currently fluctuating around the 107 yen level near the RSI 50. Although there was a slight pullback during today’s Asian session, the pair is attempting to rise again, so we should remain cautious of further upside momentum.
European currencies fell, with the euro dropping against the U.S. dollar following the release yesterday of Germany’s September IFO Business Climate Index, which declined to 87.7 from 89.0 the previous month.The EUR/USD pair fell from 1.1818 to 1.1728. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it. Similar price action was observed on the 4-hour chart, and on the daily chart, the price plummeted from just below the +2σ line of the Bollinger Bands to just below the 20-period MA.
Today’s schedule includes the release of the BOJ meeting minutes at 8:50 a.m., the GfK Consumer Confidence Survey in Germany at 3:00 p.m., the French Consumer Confidence Index at 3:45 p.m., the SNB policy rate and statement in Switzerland at 4:30 p.m., a press conference by SNB Governor Schlegel in Switzerland at 5:00 p.m., and at 7:00 p.m., the UK’sCBI Retail Trade Survey, at 9:30 PM the US Initial Jobless Claims and US Q2 GDP, at 10:00 PM remarks by US Federal Reserve Bank of New York President Williams, at 11:00 PM US Existing Home Sales, at 11:30 PM US Weekly Natural Gas Inventories, and at 2:00 AM remarks by US Federal Reserve Board Member Barr.Keep an eye on the upside potential for the Canadian dollar, which has risen against the yen.
Author: Keisuke Sakurai
