search

An incredible cashback rate!
40% of the spread!

Join Now

Should We Keep an Eye on the Direction of the Slumping Pound?

Market Report

  1. homeHOME
  2. Market Report
  3. Should We Keep an Eye on the Direction of the Slumping Pound?

Should We Keep an Eye on the Direction of the Slumping Pound?

10.11.2022

Today's Highlights
  1. U.S. Consumer Price Index (CPI)
  2. Harker (U.S.): Remarks by the President of the Federal Reserve Bank of Philadelphia

In the previous day’s U.S. currency trading, the dollar rebounded during European trading hours and rose against the yen. The USD/JPY pair rose from 145.167 to 146.775.It managed to avoid falling below the 145-yen level. However, USD/JPY is currently trading below the 20-day moving average (MA) on the daily chart, and the 200-period simple moving average (SMA) is acting as resistance on the 4-hour chart. Therefore, we need to remain cautious as today’s U.S. Consumer Price Index (CPI) release could trigger further downward pressure.

Among European currencies, the pound was the weakest, with GBP/JPY falling by just over 2 yen from 168.302 to 166.018. Yesterday’s decline halted GBP/JPY’s advance toward the upper boundary of the uptrend line, causing it to pull back to the 200 EMA on the 4-hour chart.During today’s Asian session, the pair has rebounded back toward the lower boundary of the uptrend line, so we will wait and see if an upward move materializes heading into the European session.

Today’s schedule includes Turkey’s unemployment rate at 16:00 European time, remarks by Fed Governor Waller at 16:00, the ECB’s monthly report at 18:00, remarks by SNB Board Member Mekler at 21:30, and during U.S. trading hours at 22:00, remarks byRamsden, Deputy Governor of the Bank of England, at 22:00 U.S. time; U.S. initial jobless claims and the U.S. Consumer Price Index at 22:30; remarks by Harker, President of the Federal Reserve Bank of Philadelphia, at 22:30; remarks by Logan,Dallas Fed President Logan’s remarks at 24:30, U.S. weekly natural gas inventories at 24:30, and a U.S. 30-year Treasury auction at 27:00. I intend to carefully monitor the direction of the pound, which is currently losing momentum.

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 he also has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Will the release of economic indicators in U.S. time clarify currency strength and weakness?

Next Article

All eyes are on whether currency strength and weakness will shift significantly on the final day of the weekend.
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