Caution Over Upside Potential for the Canadian Dollar, Which Has Risen Against the Yen
11.11.2025
- Westpac Consumer Confidence Index (Australia)
- Japan Economic Watchers Survey
In the U.S. currency market yesterday, the Canadian dollar rose against the yen. The CAD/JPY pair rose from 109.272 to 110.071. An uptrend has emerged along the 10-period moving average (MA) on the hourly chart.On the 4-hour chart, a solid rebound has occurred, supported by the 200-period EMA, and on the daily chart, the RSI has risen from 49 to 60. Furthermore, on the weekly chart, the pair is approaching this year’s high of 110.150, so we should keep an eye on the Canadian dollar’s gains during U.S. trading hours.
Among European currencies, the euro fell against the Australian dollar. The EUR/AUD pair dropped from 1.7802 to 1.7672.A downtrend has emerged along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair has broken below the 200-period simple moving average (SMA) that had been providing support, and on the daily chart, it is currently moving from above the 20-period MA to below it. However, as the euro has been showing signs of strength again during today’s Asian trading session, we will be watching closely to see if the euro will rally.
Today’s economic indicators include the Australian Westpac Consumer Confidence Index at 8:30, Japan’s trade balance at 8:50, the Australian NAB Business Confidence Index at 9:30, Japan’s Economic Watchers Survey at 14:00, and the UK’sunemployment rate at 14:00, remarks by MPC member Green at 17:30, the German ZEW Economic Sentiment Survey at 19:00, and the U.S. NFIB Small Business Optimism Index at 20:00. Investors should remain cautious about the upside potential of the Canadian dollar, which has risen against the yen.
Author: Keisuke Sakurai
