Will the weakening GBP/JPY pair see a rebound? All eyes are on price movements during European trading hours.

Will the weakening GBP/JPY pair see a rebound? All eyes are on price movements during European trading hours.

10.02.2025

Last weekend, the Canadian dollar fell slightly against the yen following the release of Canada’s January employment statistics on the 7th, which showed the unemployment rate dropping by 0.1 percentage points from 6.7% to 6.6%. The CAD/JPY pair traded between 106.452 and 105.387, with price action fluctuating around the 20-period moving average on the hourly chart.On the 4-hour chart, prices have stalled at the -2σ level of the Bollinger Bands, and similar price action is observed on the daily chart.

Among European currencies, the pound fell against the yen. The GBP/JPY pair dropped from 189.589 to 187.074. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the downtrend along the 10-period MA continues, and on the daily chart, the downtrend that began at the end of December last year remains intact. We will be watching closely to see if the pound’s momentum continues to weaken and whether it will hit new lows.

Today’s key economic indicators include Japan’s balance of payments at 8:50 a.m., the Japan Economic Watchers Survey at 2:00 p.m., Norway’s Consumer Price Index, Turkey’s employment statistics, and Turkey’s Producer Price Index at 4:00 p.m., and remarks by ECB President Lagarde at 11:00 p.m. We will be watching price movements during European trading hours to see if the weakening GBP/JPY pair will stage a rebound.

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