Will the Euro/Yen, which has rebounded, hold its gains? Market participants will be closely watching price movements during European trading hours.

Will the Euro/Yen, which has rebounded, hold its gains? Market participants will be closely watching price movements during European trading hours.

18.03.2026

In the U.S. currency market yesterday, the Canadian dollar traded in a narrow range against the yen ahead of today’s BOC policy rate announcement. The CAD/JPY pair fluctuated between 115.843 and 116.504. It traded within the range of the hourly Bollinger Bands from -3σ to +2σ.On the 4-hour chart, prices have stopped falling, supported by the 75-day moving average (MA) on the downside, while facing resistance at the 10-day MA on the upside. On the daily chart, the pullback following a touch of the +2σ Bollinger Band has now continued for four trading days.

Despite the fact that the March ZEW Economic Sentiment Index for the Eurozone, released yesterday, fell to -8.5 from 39.4 the previous month, the euro rose against the yen.The EUR/JPY pair rose from 182.819 to 183.545, breaking above the resistance line formed by the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, prices are also being pushed higher near the upper resistance zone formed by the 200-period SMA, similar to the hourly chart. On the daily chart, the 75-period moving average is acting as a support line, and the pair is currently rebounding for the second consecutive trading day.

Today’s schedule includes the Australian Westpac Leading Index at 8:30, Japan’s customs-based trade balance at 8:50, South Africa’s Consumer Price Index at 17:00, the Eurozone Consumer Price Index at 19:00, the U.S. MBA Mortgage Applications Index at 20:00, the U.S. Producer Price Index and Canadian international securities turnover at 21:30,at 10:45 PM, the Bank of Canada (BOC) policy rate and statement; at 11:00 PM, U.S. durable goods orders and new manufacturing orders; at 11:30 PM, U.S. weekly crude oil inventories and a press conference by BOC Governor Macklem; at 3:00 AM, the FOMC policy rate and statement; and at 3:30 AM, a press conference by Fed Chair Powell.We will be closely monitoring price movements during European trading hours to see if the Euro/Yen, which has rebounded, can maintain its gains.