search

An incredible cashback rate!
40% of the spread!

Join Now

Market Participants May Be Watching the Direction of the Pound-Yen Pair, Which Is Falling Amid a Strong Yen Trend

Market Report

  1. homeHOME
  2. Market Report
  3. Market Participants May Be Watching the Direction of the Pound-Yen Pair, Which Is Falling Amid a Strong Yen Trend

Market Participants May Be Watching the Direction of the Pound-Yen Pair, Which Is Falling Amid a Strong Yen Trend

06.10.2022

Today's Highlights
  1. Mester (U.S.): Remarks by the President of the Cleveland Federal Reserve Bank
  2. U.S. Initial Unemployment Insurance Claims

In the U.S. currency market the previous day, the euro/dollar pair fell as the Dollar Index recovered to 111, dropping approximately 150 pips from 0.9994 to 0.9834.The EUR/USD pair was pushed back at the upper boundary of its daily downtrend line, falling to the 75-period moving average (MA) on the 4-hour chart. However, on the daily chart, the pair has rebounded with the 20-period MA acting as support. We will be closely monitoring whether the decline has bottomed out and the rebound will continue.

Among European currencies, the GBP/JPY pair, which had been rising gradually along the 20-period moving average on the hourly chart, reversed course and fell. GBP/JPY dropped by about 3 yen, from 165.713 to 162.617. The decline halted as the pair found support at the downtrend line drawn from June 9 of this year.During today’s Asian session, price movements have lacked a clear direction, so we will be watching closely to see if economic indicators released during the European session will provide a clearer direction for the market.

Today, German manufacturing orders will be released at 15:00, the UK construction PMI at 17:30, Eurozone retail sales at 18:00, and at 20:30, the EurozoneECB Governing Council Meeting Minutes, at 21:30 U.S. Initial Jobless Claims, at 21:50 remarks by U.S. Federal Reserve Bank of Cleveland President Mester, at 23:00 Canada’s Ivey Purchasing Managers’ Index, at 23:30 U.S. Weekly Natural Gas Inventories,at 24:35: Remarks by MacLeam, Governor of the Bank of Canada; at 26:00: Remarks by Cook, Federal Reserve Governor; at 6:00 the following day: Remarks by Waller, Federal Reserve Governor; and at 7:30 the following day: Remarks by Mester, President of the Cleveland Fed.I’d like to wait and see whether this signals a return to a yen-weakening trend and what direction GBP/JPY will take.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management with a particular focus on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

With the PPI hitting a record high, all eyes are on the direction of the euro

Next Article

Market Participants May Be Watching for Further Downside Potential in European Currencies, Which Have Been Trending Higher Against the Yen
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings