Should we focus on the euro's upside potential against the yen?
15.10.2025
- Japan: Industrial Production
- U.S. New York Fed Manufacturing Index
In the U.S. currency market yesterday, the Canadian dollar fell against the yen after Canada’s August housing starts data, released yesterday, deteriorated from -0.1% in the previous month to -1.2%. The CAD/JPY pair fell from 108.715 to 107.908.The price fell from the 20-period moving average (MA) to just below the 200-period 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 returning from the +3σ line of the Bollinger Bands toward the centerline.
European currencies rose against the yen as the German ZEW Economic Sentiment Index for October, 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 confined to the range around the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, prices are being capped by the 20-period MA while finding support at the 75-period MA, and on the daily chart, the 10-period MA is acting as a support level, with prices 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, Eurozone Industrial Production at 18:00, MBA Mortgage Applications at 20:00, South Africa’s Retail Sales at 20:00,at 9:30 PM, Canadian Manufacturing Sales and Canadian Wholesale Sales, the US New York Fed Manufacturing Index; at 10:30 PM, remarks by US Federal Reserve Governor Mian; at 12:45 AM, remarks by UK BOE Deputy Governor Breeden; at 2:00 AM, remarks by US Federal Reserve Governor Waller; and at 3:00 AM, the US Federal Reserve Beige Book.We will be watching for further upside potential in the euro, which has risen against the yen.
Author: Keisuke Sakurai
