Focus 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 U.S. 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 within a range of 160.15 to 160.39 yen in the Tokyo market and was 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 in the 160.50 to 160.70 range. On the downside, the focus will likely be on whether the 160.00 to 159.50 range holds as a support zone.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 were weighed down by cautious sentiment regarding the European economy, as Germany’s new manufacturing orders for April fell 3.8% month-on-month, missing market expectations.The euro/dollar pair traded within a range of 1.1512 to 1.1538 during the Tokyo session and stood in the mid-1.1510s as of 17:00. 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 found 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 near the 1.1500 level.Germany’s April industrial production and trade balance figures are scheduled for release today, and we will be watching the euro’s reaction during European trading hours.
Today’s economic indicators include Germany’s April industrial production and April trade balance at 15:00, South Africa’s January–March gross domestic product (GDP) at 18:30,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 drive market movements, so we will carefully monitor the reactions of the U.S. dollar, the yen, and the euro.
Author: Keisuke Sakurai
