Investors should keep an eye on the continued price movement of the GBP/JPY pair, which has been rising for seven consecutive days.

Investors should keep an eye on the continued price movement of the GBP/JPY pair, which has been rising for seven consecutive days.

26.06.2024

In the U.S. currency market yesterday, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 116.530 to 117.100. Although it briefly dipped below the 20-period moving average (MA) on the hourly chart, it quickly recovered. On the 4-hour chart, the 10-period MA is acting as a support level.On the daily chart, there have been 12 consecutive bullish candles since the 7th of this month, and the daily RSI has exceeded 70, so we will be watching closely to see if the upward trend continues during U.S. trading hours.

Among European currencies, the pound emerged as the strongest during U.S. trading hours. The GBP/JPY pair rose from 201.945 to 202.725. During today’s Asian session, it has climbed as high as 202.875. On the hourly chart, the pair is rising along the 20-period moving average (MA), while on the 4-hour chart, the 10-period MA is acting as support. Since the daily chart has recorded seven consecutive bullish candles, traders should watch for corrective price movements during European trading hours.

Today’s economic indicators include the Australian Consumer Price Index at 10:30, Singapore’s Industrial Production at 14:00, Germany’s GfK Consumer Confidence Survey at 15:00, France’s Consumer Confidence Index at 15:45, and the UK’sCBI Retail Trade Survey at 2:00 PM, the U.S. MBA Mortgage Applications Index at 8:00 PM, Brazil’s Consumer Price Index at 9:00 PM, U.S. New Home Sales at 11:00 PM, U.S. Weekly Crude Oil Inventories at 11:30 PM, and a U.S. 5-Year Treasury Auction at 2:00 AM. We should pay close attention to the continued movement of the GBP/JPY pair, which has been rising for seven consecutive days.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 15.04.2026New

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

4. 14.04.2026New

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

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 09.04.2026

   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?

8. 08.04.2026

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

9. 07.04.2026

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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed