All eyes are on the GBP/JPY pair, which fell by 3 yen from the 165-yen range in a single day

All eyes are on the GBP/JPY pair, which fell by 3 yen from the 165-yen range in a single day

26.04.2022

In yesterday’s trading, the U.S. dollar strengthened against European currencies, with GBP/USD falling approximately 110 pips from 1.081 to 1.069. GBP/USD has already hit a new low for the year, and if the decline continues, there are no major resistance levels until the low of 1.062 seen two years ago, so we should remain vigilant for further declines.

Among European currencies, the pound fell significantly, keeping pace with the weakness seen in Oceania currencies; the GBP/JPY pair dropped sharply by 320 pips, from 165.29 to 162.04.From a technical perspective, GBP/JPY has rebounded near the 162.00 level—the 38.2% Fibonacci retracement level of the uptrend that began on March 8—so we will be watching closely to see if the pair resumes its upward movement after a period of consolidation.

There are no major economic indicators scheduled for the European session today. During the U.S. session, U.S. durable goods orders will be released at 9:30 p.m.,at 21:55, remarks by BOC Deputy Governor Lane; at 22:00, the U.S. S&P/Case-Shiller Home Price Index; at 23:00, the U.S. Consumer Confidence Index, U.S. New Home Sales, and the U.S. Richmond Fed Manufacturing Index; and at 26:00, a U.S. 2-year Treasury auction.Ahead of next week’s BOE policy meeting, we will be watching the trend of the pound, which has been weakening.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

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

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?