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Should We Keep an Eye on the Euro’s Upside Potential Against the Yen?

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Should We Keep an Eye on the Euro’s Upside Potential Against the Yen?

15.10.2025

Today's Highlights
  1. Japan: Industrial Production
  2. U.S. New York Fed Manufacturing Index

In U.S. currency trading yesterday, the Canadian dollar fell against the yen after Canada’s August housing starts data, released yesterday, showed a deterioration from the previous month’s -0.1% to -1.2%. The CAD/JPY pair fell from 108.715 to 107.908.The price fell from the 20-period moving average (MA) on the hourly chart to just below the 200-period simple moving average (SMA). On the 4-hour chart, a downtrend is developing along the 20-period MA, while on the daily chart, the price is retracing from the +3σ level of the Bollinger Bands back toward the centerline.

European currencies rose, with the euro gaining against the yen after Germany’s October ZEW Economic Sentiment Index, released yesterday, improved to 39.3 from 37.3 the previous month. The euro/yen pair rose from 175.346 to 176.448.Price action remained within the range of the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, prices are being capped by the 20-MA while finding support at the 75-MA; on the daily chart, the 10-MA is acting as a support level, and prices are currently rebounding from it.

Today’s schedule includes the Australian Westpac Leading Index at 8:30, Japan’s Industrial Production at 13:30, remarks by BOE Deputy Governor Ramsden at 17:00, and at 18:00, the Eurozone’sIndustrial Production, at 20:00 the MBA Mortgage Applications, at 20:00 South Africa’s Retail Sales, at 21:30 Canada’s Manufacturing Sales and Wholesale Sales, and the U.S. NY Fed Manufacturing Index,22:30: Remarks by U.S. Federal Reserve Governor Milan; 24:45: Remarks by UK BOE Deputy Governor Breeden; 26:00: Remarks by U.S. Federal Reserve Governor Waller; 27:00: U.S. Federal Reserve Beige Book.We will be watching for further upside potential in the euro, which has risen against the yen.

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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Will the pound, now at its strongest, maintain its momentum? All eyes are on price movements during European trading hours.
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