Attention may be turning to the downside potential of the Swiss franc, which has fallen against the yen
30.10.2025
- Germany's Third-Quarter GDP
- ECB Policy Rate and Statement Release
In yesterday's U.S. currency markets, the U.S. dollar rose against the euro following the Federal Open Market Committee's (FOMC) decision to cut interest rates by 0.25%.The EUR/USD pair fell from 1.1665 to 1.1578. It dropped from the +2σ to the -3σ levels on the hourly Bollinger Bands. On the 4-hour chart, the 200 EMA is acting as a resistance level, causing prices to decline, while on the daily chart, prices are currently being capped along the 20 MA. Note that the US dollar has weakened again during today’s Asian session, so we will be watching for directional cues during the European session.
Among European currencies, the Swiss franc fell against the yen. The CHF/JPY pair dropped from 191.943 to 190.503. The price broke significantly below the support line formed by the 200-period SMA on the hourly chart.On the 4-hour chart, the price has already moved below the 20-period moving average (MA), and on the daily chart, the uptrend along the 10-period MA is beginning to break down. Furthermore, since the daily RSI has surged to 76, we will be watching closely to see if the current correction continues.
Today, around noon, the Bank of Japan (BOJ) will announce its policy rate and statement; at 3:30 p.m., France will release its third-quarter GDP and consumer spending figures, followed by a press conference by BOJ Governor Ueda; at 5:00 p.m., Switzerland will release the KOF Leading Indicator; at 5:55 p.m., Germany will release its unemployment rate; at 6:00 p.m., Germany will release its third-quarter GDP;at 7:00 PM, the Eurozone Q3 GDP; at 10:00 PM, Germany’s Consumer Price Index; at 10:15 PM, the ECB’s policy rate decision and statement; at 10:45 PM, ECB President Lagarde’s press conference; at 10:55 PM, remarks by Fed Vice Chair Bowman; and at 11:30 PM, U.S. weekly natural gas inventories.We will be watching for further downside potential in the Swiss franc against the yen.
Author: Keisuke Sakurai
