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

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

02.04.2026

In yesterday’s U.S. currency trading, 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 the daily chart showed a return to just below the 200-day EMA. Notably, during today’s Asian trading session, the U.S. dollar has regained strength and has broken 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 EUR/JPY 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/domestic securities investment at 8:50, Australia'sTrade Balance, 10:00 AM: US – Remarks by President Trump, 3:30 PM: Switzerland – Consumer Price Index, 3:45 PM: France – Fiscal Balance, 5:00 PM: Eurozone – ECB Monthly Report, 8:30 PM: US – Challenger Layoffs, 9:30 PM: US – Initial Jobless Claims, US – Trade Balance,Canada’s International Merchandise Trade at 11:00 PM, U.S. Manufacturing New Orders at 11:00 PM, remarks by Logan, President of the Dallas Fed, at 11:15 PM, U.S. Weekly Natural Gas Inventories at 11:30 PM, and remarks by Bowman, Vice Chair of the Federal Reserve, at 1:45 AM. 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 maintain its gains.

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