Market participants may be waiting to see if the USD/JPY pair has room to rebound as resistance builds

Market participants may be waiting to see if the USD/JPY pair has room to rebound as resistance builds

10.03.2026

In the U.S. currency market yesterday, the U.S. dollar fell against the yen. The USD/JPY pair dropped from 158.898 to 157.621. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it.On the 4-hour chart, prices pulled back after touching the +3σ line of the Bollinger Bands. On the daily chart, prices surged with momentum approaching the year-to-date high, but pulled back after setting a new monthly high. The +2σ line of the Bollinger Bands acted as resistance. Meanwhile, on the weekly chart, the RSI is currently rebounding from 47 to 59, so it remains to be seen whether the US dollar’s pullback will continue.

Among European currencies, the Swiss franc was the weakest toward the end of the U.S. trading session. The CHF/JPY pair traded between 202.581 and 203.724, fluctuating around the 20-period moving average (MA) on the hourly chart throughout the session. On the 4-hour chart, price action similarly fluctuated around the 20-period MA, while on the daily chart, the pair has pulled back after testing its all-time high once again.

Today’s economic indicators include the Australian Westpac Consumer Confidence Index at 8:30, Japan’s Q4 GDP and GDP deflator at 8:50, the Australian NAB Business Conditions Index at 9:30, Japan’s machine tool orders at 15:00, Germany’s trade balance at 16:00, and France’strade balance and current account balance, at 19:00 the US NFIB Small Business Optimism Index, at 23:00 US existing home sales, and at 02:00 the US 3-year Treasury auction. We intend to cautiously monitor the upside potential for USD/JPY, which has faced resistance.

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