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Should We Keep an Eye on the Potential for a Rebound in the Pound-Yen Pair After Its Decline?

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Should We Keep an Eye on the Potential for a Rebound in the Pound-Yen Pair After Its Decline?

26.03.2025

Today's Highlights
  1. Australia's Consumer Price Index
  2. U.S. MBA Mortgage Applications Index

In the U.S. currency market yesterday, the U.S. dollar strengthened against the euro. The EUR/USD pair fell from 1.0829 to 1.0776. The 75-period moving average (MA) on the hourly chart acted as resistance, causing the pair to decline.On the 4-hour chart, the downtrend along the 20-period moving average continues, and on the daily chart, the RSI is showing signs of pulling back from 73. It will be interesting to see if the U.S. dollar continues to rise during European trading hours.

Among European currencies, the pound fell against the yen. The GBP/JPY pair dropped from 195.006 to 193.646. It fell within the range of the hourly Bollinger Bands from +2σ to -3σ.On the 4-hour chart, the upside is being capped by the +2σ Bollinger Band, while on the daily chart, the pair is currently caught in a tug-of-war between a breakout above and a pullback just below the 200-day SMA. We will need to keep a close eye on price action to see if the pound’s weakness will resolve during U.S. trading hours.

Today’s schedule includes the Japan Business Services Price Index at 8:50, the Australia Consumer Price Index at 9:30, the Japan Economic Sentiment Index at 14:00, the UK Consumer Price Index, UK Retail Price Index, and UK Producer Price Index at 16:00, and the U.S.MBA Mortgage Applications Index, at 21:30 U.S. Durable Goods Orders, at 23:00 remarks by Kashkari, President of the Minneapolis Fed, at 23:30 U.S. Weekly Crude Oil Inventories, and at 26:00 a U.S. 5-Year Treasury Auction.We will carefully monitor the potential for a rebound in the GBP/JPY pair, which has pulled back.

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 focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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Should We Keep an Eye on a Potential Rebound in the Euro/Dollar Pair, Which Has Been Falling for Four Consecutive Days?

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