It remains to be seen whether the GBP/JPY pair, which has been stuck in the high 180-yen range, will break out

It remains to be seen whether the GBP/JPY pair, which has been stuck in the high 180-yen range, will break out

26.12.2023

In the previous day’s U.S. currency markets, trading remained low-volatility across currencies due to the Christmas holiday. The CAD/JPY pair rose in contrast to the weakening USD/JPY, climbing from 106.818 to 107.559.From a technical perspective, the CAD/JPY pair has failed in two attempts to break below the daily 200-day SMA and has entered a rebound phase. We will closely monitor whether the Canadian dollar continues to rise against the yen during European trading hours.

European markets were closed for Christmas in major countries, just as they were in the U.S., and markets in the UK, Germany, and Switzerland are scheduled to remain closed today as well. The GBP/JPY pair is trading within a very narrow range in the upper 180s. We will be watching closely to see if the pound continues to show no distinctive movement against the yen as we approach the end of the European holiday period.

Today, at 8:30 AM, Japan’s employment statistics and corporate service price index will be released; at 2:00 PM, Singapore’s industrial production and consumer price index will be released; at 4:00 PM, Turkey’s capacity utilization rate will be released;Turkey’s Manufacturing Confidence Index, at 10:30 PM the U.S. Chicago Fed National Activity Index, at 11:00 PM the U.S. Housing Price Index and the U.S. S&P Case-Shiller Home Price Index, at 12:30 AM the U.S. Dallas Fed Manufacturing Activity Index, at 2:00 AM the U.S. 2-Year Treasury Auction, and at 3:00 AM South Korea’s Consumer Confidence Index.I want to wait and see if the GBP/JPY pair, which has been stuck in the upper 180 yen range, will finally break out.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran