Should We Keep an Eye on the Upside Potential for GBP/JPY, Which Hit a New High This Year?
26.06.2025
- Japan: Foreign and Domestic Securities Investment
- U.S. Durable Goods Orders
In the U.S. currency market yesterday, the U.S. dollar rose against the yen. The USD/JPY pair traded between 144.652 and 145.979. The pair rose along the +2σ line of the hourly Bollinger Bands.On the 4-hour chart, the price has shifted from below the 20-period moving average (MA) to above it, while on the daily chart, the price rebounded after touching the 20-period MA. We will be watching closely to see if the U.S. dollar’s momentum holds during today’s European trading session.
Among European currencies, the pound rose against the yen. The GBP/JPY pair rose from 197.048 to 198.569. A band walk was observed along the +3σ line of the hourly Bollinger Bands.On the 4-hour chart, the 10-period moving average is providing solid support at the lower end, while on the daily chart, the RSI has risen to 68. We will be watching closely to see if the pound continues to climb from here.
Today’s schedule includes Japan’s foreign and domestic securities investment data at 8:50, Germany’s GfK Consumer Confidence Survey at 15:00, South Africa’s BER Consumer Confidence Index at 17:00, South Africa’s Producer Price Index at 18:30, and the UK’sRemarks by BOE Governor Bailey, at 21:30: U.S. Initial Jobless Claims, U.S. Real GDP, U.S. Durable Goods Orders, and U.S. Wholesale Inventories; at 21:45: Remarks by U.S. Richmond Fed President Barkin; at 22:00: Remarks by U.S.Cleveland Fed President Hammack’s remarks at 22:00, U.S. existing home sales at 23:00, and a U.S. 7-year Treasury auction at 26:00. We will cautiously monitor the upside potential for GBP/JPY, which has hit a new high for the year.
Author: Keisuke Sakurai
