With the yen strengthening, market participants are likely to keep a close eye on the pound, which has shown resilience on the downside.

With the yen strengthening, market participants are likely to keep a close eye on the pound, which has shown resilience on the downside.

27.10.2022

In the previous session, the U.S. dollar became the weakest currency as the Dollar Index fell below the key 110 level to 109.7. GBP/USD rose by approximately 200 pips from 1.1431 to 1.1638, forming an uptrend along the 10-period moving average on the hourly chart.On the 4-hour chart, the pair has already broken above the 200-period SMA, and on the daily chart, it is positioned just below the 75-period MA. It will be worth watching whether the pair will rise from its current level of 1.1607 after a corrective pullback.

Amid a strengthening yen, the pound held its ground against the Japanese currency. GBP/JPY rose by approximately 120 pips from 169.292 to 170.597, breaking through the key 170-yen level to hit a new high for the year.Since the daily RSI has not yet reached the overbought level of 70 and still has some room to run, we will be watching closely to see if economic data releases during European trading hours drive the pair higher. However, on the hourly chart, the RSI has shown a short-term reversal, so we should remain cautious of a corrective pullback.

Today’s schedule includes the German GfK Consumer Confidence Survey at 3:00 PM Asia time; Turkey’s trade balance at 4:00 PM Europe time; the ECB’s policy rate decision and statement at 9:15 PM Europe time; U.S. initial jobless claims, third-quarter GDP, and personal consumption at 9:30 PM U.S. time;U.S. Core PCE Deflator, U.S. Durable Goods Orders, at 21:45 the ECB President Lagarde’s press conference, at 23:30 U.S. Weekly Natural Gas Inventories, at 24:00 the U.S. Kansas City Fed Manufacturing Activity Index, and at 26:00 the U.S. 7-Year Treasury Auction. With the yen strengthening, we will be closely monitoring the movement of the pound, which is showing resilience on the downside.

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?