Keep an eye on the resilience of the USD/JPY pair, which is trading in the 160-yen range
09.06.2026
- Germany's April Industrial Production
- U.S. April Trade Balance
In the U.S. currency market the previous day, the dollar held steady amid speculation about a U.S. interest rate hike following last weekend’s U.S. May employment report, as well as demand for safe-haven assets driven by the situation in the Middle East.The dollar-yen pair traded in a range of 160.15 to 160.39 yen in the Tokyo market, settling in the 160.20 yen range as of 5:00 p.m.Currently, the pair is holding above the key 160.00 level, with resistance likely to be found around 160.50 to 160.70 on the upside. On the downside, the focus will likely be on whether the 160.00 to 159.50 range holds as support.Today, the U.S. April trade balance and May existing home sales figures are scheduled for release, and we will be watching to see if the U.S. dollar continues to trade at elevated levels.
European currencies came under pressure as German manufacturing new orders for April fell 3.8% month-on-month, missing market expectations, and cautious views on the European economy weighed on the market.The euro/dollar pair traded in a range of 1.1512 to 1.1538 in the Tokyo session and stood in the mid-1.1510s as of 5:00 p.m. Amid a strong U.S. dollar trend, the euro/dollar pair continues to face resistance in the low 1.1500s.Resistance is likely to be seen around 1.1550 to 1.1580, while support is likely to be around 1.1500 to 1.1480; the immediate focus will be on whether the pair can hold above the 1.1500 level.With Germany’s April industrial production and trade balance data scheduled for release today, we will be watching for the euro’s reaction during European trading hours.
Today’s economic indicators include Germany’s April industrial production and April trade balance at 3:00 PM, South Africa’s Q1 GDP at 6:30 PM,Mexico’s May Consumer Price Index (CPI) at 21:00, the U.S. and Canadian April trade balances at 21:30, and U.S. May existing home sales and April wholesale sales at 23:00.In particular, German industrial production during European trading hours and U.S. trade balances and housing-related indicators during New York trading hours are likely to be key drivers, so we will carefully monitor the reactions of the U.S. dollar, the yen, and the euro.
Author: Keisuke Sakurai
