Will the Swiss franc, which has fallen against the yen, recover? Or should we wait and see which way it goes?
24.03.2026
- China Non-Manufacturing/Manufacturing PMI
- U.S. Nonfarm Productivity Index
In the U.S. currency market yesterday, the dollar fell against the yen. The USD/JPY pair dropped from 159.657 to 158.011, declining along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the price has moved from above the 20-period MA to below it, falling just below the 75-period MA. On the daily chart, while the price is barely finding support at the 20-period MA, it continues to form lower highs.
Among European currencies, the Swiss franc fell against the yen. The CHF/JPY pair dropped from 202.454 to 200.567. It rebounded after hitting resistance at the 200-period SMA on the hourly chart.On the 4-hour chart, the price is moving from above the 20-period moving average (MA) to below it within a zone where short- and long-term MAs are clustered. Meanwhile, on the daily chart, the price is holding firm just below the 20-period MA. Furthermore, on the weekly chart, the uptrend along the 10-period MA has continued since February of last year; therefore, we should remain cautious of upward pressure until the price falls below the 20-period MA on the weekly chart.
Today’s economic indicators include Japan’s Consumer Price Index at 8:30, remarks by RBNZ Governor Breman at 10:00, France’s Non-Manufacturing/Manufacturing PMI at 17:15, Germany’s Non-Manufacturing/Manufacturing PMI at 17:30, the Eurozone’s Manufacturing/Services PMI at 18:00, and the UK’sManufacturing/Services PMI, 21:30 US Nonfarm Productivity, 22:30 UK MPC Member Pill’s remarks, 22:45 US PMI Purchasing Managers’ Index, 23:00 US Richmond Fed Manufacturing Index, 02:00 Swiss SNB Governor Schlegel’s remarks, and a US 2-year Treasury auction.I want to wait and see whether the Swiss franc, which has fallen against the yen, will recover.
Author: Keisuke Sakurai
