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 market expectations 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 euro-pound 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 is also being seen during today’s Asian session, we should pay close attention to the direction of the market during European trading hours.

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, and 24:00: US University of Michigan Consumer Sentiment Index. We will be watching for upside potential in the US dollar, which rose on the back of strong US employment data.