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

Will the euro, which has risen against the yen, hold onto its gains? Or will the market wait and see how prices move 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 Bollinger Bands, and on the daily chart, it appears to be returning to just below the 200-day EMA. Meanwhile, during today’s Asian 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/domestic securities investment at 8:50, Australia'strade balance, at 10:00 AM: US – Remarks by President Trump, at 3:30 PM: Switzerland – Consumer Price Index, at 3:45 PM: France – Budget Balance, at 5:00 PM: Eurozone – ECB Monthly Report, at 8:30 PM: US – Challenger Layoffs, at 9:30 PM: US – Initial Jobless Claims, US – Trade Balance,Canada’s International Merchandise Trade, 11:00 PM US Manufacturing New Orders, 11:15 PM US remarks by Logan, President of the Dallas Fed, 11:30 PM US Weekly Natural Gas Inventories, and 1:45 AM US remarks by Fed Vice Chair Bowman. I’d like to wait and see how the market moves during US trading hours to determine whether the euro, which has risen against the yen, can maintain its gains.