Despite the improvement in GDP, will the market wait and see how much room the euro has to recover after its decline against the yen?
17.11.2025
- Japan: Industrial Production
- U.S. New York Fed Manufacturing Index
Last weekend, the U.S. dollar saw a seesaw movement against the yen. The USD/JPY pair plummeted from 154.754 to 153.621 during U.S. trading hours, before rebounding sharply to near its opening price.On the 4-hour chart, the RSI is hovering around 52 just below the 20-period moving average (MA), while on the daily chart, it remains above the 10-period MA. On the monthly chart, the RSI has risen to 57, near the upper trendline.
Despite the fact that the eurozone’s third-quarter GDP, released on the 14th, improved by 0.1 percentage points year-over-year from 1.3% to 1.4%, the euro fell against the yen.The euro/yen pair fell from 179.963 to 178.973. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the band walk along the +2σ line of the Bollinger Bands has broken down, and on the daily chart, the RSI has pulled back from the 70 level.
Today’s economic indicators include Japan’s real GDP at 8:50, the UK’s Rightmove House Price Index at 9:01, Japan’s industrial production at 13:30, Canada’s housing starts at 22:15, remarks by a member of the Bank of England’s Monetary Policy Committee (MPC) at 22:20, and Canada’sInternational Securities Turnover, U.S. NY Fed Manufacturing Index, and Canada’s Consumer Price Index; at 23:00, remarks by U.S. NY Fed President Williams; at 23:30, remarks by U.S. Fed Vice Chair Jefferson; and at 24:00, U.S. Construction Spending.Despite the improvement in GDP, we will wait and see if the euro, which has fallen against the yen, has room to recover.
