Will the euro, which has risen against the yen, hold its gains? Or will the market wait and see how it moves during U.S. trading hours?

Will the euro, which has risen against the yen, hold its gains? Or will the market wait and see how it moves during U.S. trading hours?

02.04.2026

In the U.S. currency market yesterday, the U.S. dollar fell against the euro. The EUR/USD pair rose from 1.1541 to 1.1626, with the rally tracking the 10-period moving average on the hourly chart.On the 4-hour chart, the price rebounded from the -2σ to +2σ levels of the Bollinger Bands, while on the daily chart, the price has retreated to just below the 200-period EMA. Meanwhile, during today’s Asian trading session, the U.S. dollar has strengthened again, breaking below yesterday’s low.

European currencies rose, with the euro gaining against the yen after Germany’s March manufacturing PMI, released yesterday, improved to 52.2 from 51.7 the previous month.The euro/yen pair rose from 183.167 to 184.241. It climbed with support from the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the price broke through the 20-period MA from below, and the daily chart showed a similar price movement to the 4-hour chart.

Today’s economic indicators include: Japan’s monetary base and foreign and domestic securities investment at 8:50; Australia’s trade balance at 9:30; remarks by U.S. President Trump at 10:00; Switzerland’s consumer price index at 15:30; France’s budget balance at 15:45;at 5:00 PM: Eurozone ECB Monthly Report; at 8:30 PM: U.S. Challenger Layoffs; at 9:30 PM: U.S. Initial Jobless Claims and U.S. Trade Balance;Canada’s International Merchandise Trade, at 11:00 PM U.S. time: U.S. New Manufacturing Orders, at 11:15 PM U.S. time: Remarks by Logan, President of the Dallas Fed, at 11:30 PM U.S. time: U.S. Weekly Natural Gas Inventories, and at 1:45 AM U.S. time: Remarks by Federal Reserve Vice Chair Bowman.I’d like to wait and see how the market moves during U.S. trading hours to determine whether the euro, which has risen against the yen, will hold its gains.