Be on the lookout for changes in currency strength just before the monthly candle closes
30.05.2025
- Japan/Tokyo Consumer Price Index
- University of Michigan Consumer Sentiment Index
In the U.S. currency market yesterday, the U.S. dollar fell against the yen after the first-quarter GDP and personal consumption figures released yesterday showed a decline from the previous reading of 1.8% to 1.2%, missing market expectations of 1.8%.The USD/JPY pair fell from 146.289 to 143.970. On the hourly chart, the price moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the RSI fell from 71 to 45. On the weekly chart, the price has pulled back from the 10-period MA.
Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair climbed from 1.3415 to 1.3506. On the hourly chart, the price has moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the 75-period MA is acting as a support level, leading to a rebound, while on the daily chart, an uptrend is beginning to form along the 20-period MA. We need to assess whether the pound will continue to hit new highs against the U.S. dollar.
Today’s schedule includes New Zealand housing permits at 7:45, Japan’s employment statistics and Tokyo Consumer Price Index at 8:30, Japan’s industrial production and department store/supermarket sales, at 10:30 AM: Australia Housing Construction Permits, at 2:00 PM: Japan Housing Starts, at 9:00 PM: Germany Consumer Price Index, at 9:30 PM: Canada Real GDP, U.S. Personal Income, and U.S. Wholesale Inventories, at 10:45 PM: U.S. Chicago PMI, and at 11:00 PM: U.S. University of Michigan Consumer Sentiment Index.While keeping an eye on end-of-month flows, I plan to carefully monitor price movements before the monthly candle closes.
Author: Keisuke Sakurai
