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Will the CHF/JPY Pair, Which Has Been Facing Resistance at Higher Levels, Rebound? Market Participants Remain Cautious Ahead of the Weekend’s Price Movements

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Will the CHF/JPY Pair, Which Has Been Facing Resistance at Higher Levels, Rebound? Investors Are Watching This Weekend’s Price Movements Closely

03.04.2026

Today's Highlights
  1. France: Industrial Production
  2. U.S. ISM Non-Manufacturing Economic Index

In U.S. currency trading yesterday, the Canadian dollar rose against the yen. The CAD/JPY pair rose from 114.263 to 114.824, with price action straddling the 20-period moving average on the hourly chart.On the 4-hour chart, the pair has rebounded from the +2σ Bollinger Band to the centerline, while on the daily chart, the 75-MA is acting as a support level, and the price has recovered from last month’s low. However, during today’s Asian trading session, price action has been characterized by low volatility and a lack of clear direction.

Among European currencies, the Swiss franc saw a back-and-forth movement against the yen. While other yen crosses rose, the franc’s upside against the yen was limited, with the pair trading between 199.056 and 200.047. Price action remained straddling the 20-period moving average (MA) on the hourly chart throughout the session.The 4-hour chart, like the 1-hour chart, lacks a clear direction and is trading around the 20-period moving average, while the daily chart is currently rebounding after touching the -3σ level of the Bollinger Bands.

Today’s economic indicators include French industrial production and the French manufacturing production index at 15:45, the U.S. employment report at 21:30, the U.S. PMI at 22:45, and the U.S. ISM Non-Manufacturing Index at 23:00.No other major economic indicators or key speeches are scheduled. Most markets will be closed today in observance of Good Friday, which precedes Easter. We should remain cautious about price movements over the weekend to see if the CHF/JPY pair, which has been facing resistance on the upside, will show signs of recovery.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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