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All eyes are on whether the Canadian dollar, which has fallen against the yen, will rebound following the jobs report

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All eyes are on whether the Canadian dollar, which has fallen against the yen, will rebound following the jobs report

07.11.2025

Today's Highlights
  1. University of Michigan Consumer Sentiment Index
  2. Remarks by Nagel, President of the German Central Bank

In yesterday’s U.S. currency trading, the Canadian dollar fell against the yen ahead of today’s employment report. The CAD/JPY pair fell from 109.273 to 108.197.A downtrend has emerged along the 200-period EMA on the hourly chart. On the 4-hour chart, the pair is declining while being capped by the 20-period MA. On the daily chart, the price has broken below the 20-period MA line, which had previously served as support, with a real body candle. Meanwhile, on the weekly chart, the pair is currently pulling back from the +3σ level of the Bollinger Bands.

Among European currencies, the euro, which had been falling, rebounded against the U.S. dollar. The EUR/USD pair rose from 1.1485 to 1.1552. It recovered to the 200-period EMA line, tracking the 10-period MA on the hourly chart.On the 4-hour chart, the price has moved from below the 20-period moving average (MA) to above it, while on the daily chart, the RSI has risen from 32 to 42. This marks the first rebound in six business days. On the monthly chart, the price is currently seeking direction just below the 200-period exponential moving average (EMA).

Today's economic indicators include remarks by U.S. Federal Reserve Bank of St. Louis President Musalem at 7:30, Germany'strade balance, UK: Halifax house prices, at 17:00: U.S. – remarks by Williams, President of the New York Fed, at 18:00: Switzerland – remarks by Tudin, SNB Board Member, at 21:00: Germany –remarks by German Bundesbank President Nagel, at 22:30: Canadian employment report, at 24:00: U.S. University of Michigan Consumer Sentiment Index, at 24:15: remarks by UK MPC Member Pill, and at 29:00: U.S. consumer credit balances.We will be watching closely to see if the Canadian dollar, which has been falling against the yen, will rebound following the employment report.

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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