The euro-yen is expected to trade in the upper ¥177 range, with views that yen strength will advance from the afternoon onward. The order book shows heavy buy orders in the mid-¥176 range and around ¥175.
Yesterday (1 October 2026), the euro-yen was dominated by yen strength, and showed no notable reaction after the Bank of Japan's Tankan survey was released. Although eurozone and European PMIs exceeded market expectations, movements in the euro-yen were limited.
In today's (2 October 2026) technical analysis, the order book shows heavy buy orders in the mid-¥176 range and many buy orders around ¥175. Meanwhile, sell orders are broadly positioned from the upper ¥173 range to the upper ¥183 range, with particularly heavy sell orders in the upper ¥180 range.
Correlation analysis between the euro-yen and other currency pairs found strong correlations over the past 24 hours with the pound-yen, Australian dollar-yen, euro-dollar, pound-dollar, Australian dollar-US dollar and dollar-yen pairs, with no inverse correlations observed.
Economic indicators scheduled for release today include the EU's September Harmonised Index of Consumer Prices (HICP) and the US September unemployment rate and change in nonfarm payrolls, which could affect the euro-yen's direction.