Attention is turning to the upside potential of the U.S. dollar, which rose on the back of strong U.S. employment data

Attention is turning to the upside potential of the U.S. dollar, which rose on the back of strong U.S. employment data

21.11.2025

In the U.S. currency market yesterday, the U.S. dollar rose against the yen after the September U.S. employment report, released yesterday, showed that nonfarm payrolls came in at 119,000, exceeding the market forecast of 55,000.The USD/JPY pair rose from 156.875 to 157.883, moving in line with the 20-period moving average on the hourly chart. On the 4-hour chart, the price continues to move along the +2σ line of the Bollinger Bands, while on the daily chart, the RSI has reached 75.

Among European currencies, the euro fell against the pound.The EUR/GBP pair fell from 0.8840 to 0.8795. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, a pullback from the +2σ level of the Bollinger Bands is observed, while on the daily chart, the price continues to trade in the upper range just below the 10-period MA. As downward price action has been observed during today’s Asian session, traders should pay close attention to the direction of the market during the European session.

Today’s schedule includes New Zealand’s trade balance at 6:45, Japan’s consumer price index at 8:30, Japan’s trade balance at 8:50, the UK’s GfK consumer confidence survey at 9:01, the UK’s public sector net borrowing and retail sales at 16:00, and Germany’s manufacturing/Non-Manufacturing PMI, and remarks by ECB President Lagarde; at 6:00 PM, Eurozone Manufacturing/Services PMI; at 6:30 PM, UK Manufacturing/Services PMI; at 9:30 PM, remarks by Williams, President of the New York Fed; at 9:40 PM, remarks by Schlegel, President of the SNB; at 10:30 PM, Canadian Retail Sales;23:45: PMI Purchasing Managers' Index, 24:00: US University of Michigan Consumer Sentiment Index. We should keep an eye on the upside potential for the US dollar, which rose on the back of strong US employment data.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed