Will the U.S. dollar, which has fallen against the yen, continue its decline, or should we wait and see how the market moves?

Will the U.S. dollar, which has fallen against the yen, continue its decline, or should we wait and see how the market moves?

09.04.2026

In the U.S. currency market yesterday, the U.S. dollar fell against the yen. The USD/JPY pair dropped from 159.738 to 157.890. A downtrend developed along the -3σ line of the hourly Bollinger Bands. On the 4-hour chart, the price broke below the 200-day SMA—which had been acting as a support line—with a real body candle. On the daily chart, the price broke below the 20-day MA, and the uptrend that had been following the 20-day MA since February of this year came to a halt with yesterday’s decline.

European currencies saw the pound rise against the yen after the UK’s March Construction PMI (Purchasing Managers’ Index), released yesterday, rebounded to 45.6 from 44.5 the previous month. The GBP/JPY pair rose from 212.023 to 213.134. An uptrend was observed along the 20-period moving average on the hourly chart.On the 4-hour chart, a band walk along the +2σ line of the Bollinger Bands has emerged, and on the daily chart, prices have recovered to the high range seen last month. The pair is now entering a flag pattern on the daily chart.

Today’s economic indicators include the UK RICS House Price Index at 8:01, Japan’s Foreign and Domestic Securities Investment at 8:50, Japan’s Consumer Sentiment Index at 14:00, Germany’s Trade Balance at 15:00, and Germany’sIndustrial Production, at 17:00, remarks by SNB Governor Schlegel, at 21:30, U.S. Personal Income, U.S. PCE Price Index, U.S. Real GDP, and U.S. Initial Jobless Claims, at 23:00, U.S. Wholesale Inventories, at 23:30, U.S. Weekly Natural Gas Storage, and at 02:00, a U.S. 30-Year Treasury Auction.I’d like to wait and see how the market moves during U.S. trading hours to determine whether the U.S. dollar, which has fallen against the yen, will extend its decline.