Market participants may be waiting to see if the USD/JPY pair has room to recover as resistance levels have become stronger
10.03.2026
- U.S. 3-Year Treasury Auction
- France: Trade Balance
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, the price 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 a US 3-year Treasury auction. We intend to cautiously monitor the upside potential for USD/JPY, which has faced resistance.
Author: Keisuke Sakurai
