Euro/Dollar on the Rise: Will the Market Wait and See if It Can Hold Its Gains?
28.04.2026
- Japan: Employment Statistics
- U.S. S&P/Case-Shiller Home Price Index
In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen. The USD/JPY pair dropped from 159.596 to 159.098. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the candlesticks have pulled back to just below the 200-period simple moving average (SMA), while on the daily chart, the price remains above the 20-period MA. On the weekly chart, the uptrend along the 10-period MA remains intact.
Among European currencies, the euro rose against the U.S. dollar. The EUR/USD pair rose from 1.1692 to 1.1755, trading above the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is currently pulling back from the +2σ line of the Bollinger Bands. On the daily chart, prices rebounded after touching the 20-period MA but were unable to sustain the rally, and resistance is building at higher levels. On the weekly chart, prices are also rebounding from the 20-period MA, similar to the daily chart.
Today’s key economic indicators include Japan’s employment statistics at 8:30 a.m., the Bank of Japan’s policy rate decision and statement around noon, Japan’s machine tool orders at 3:00 p.m.,a press conference by BOJ Governor Ueda at 3:30 PM, the U.S. Housing Price Index and the S&P/Case-Shiller Home Price Index at 10:00 PM, the Richmond Fed Manufacturing Index and the Conference Board Consumer Confidence Index at 11:00 PM, and a U.S. 7-year Treasury auction at 2:00 AM. I’d like to wait and see if the euro/dollar pair, which has risen, can hold its gains.
Author: Keisuke Sakurai
