Should we keep an eye on the upside potential for GBP/JPY, which hit a new high this year?

Should we keep an eye on the upside potential for GBP/JPY, which hit a new high this year?

26.06.2025

In yesterday’s U.S. currency trading, 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 moved from below the 20-period moving average (MA) to above it, while on the daily chart, it rebounded after touching the 20-period MA. We will be watching closely to see if the U.S. dollar maintains its momentum during today’s European trading session.

Among European currencies, the pound rose against the yen. The GBP/JPY pair climbed 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.

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, remarks by Bank of England Governor Bailey at 20:00, U.S. initial jobless claims and real GDP at 21:30,U.S. Durable Goods Orders, U.S. Wholesale Inventories, at 9:45 PM U.S. Fed Richmond President Barkin’s remarks, at 10:00 PM U.S. Fed Cleveland President Hammack’s remarks, at 11:00 PM U.S. Existing Home Sales, and at 2:00 AM U.S. 7-Year Treasury Auction. We will closely monitor the upside potential of GBP/JPY, which has hit a new high this year.

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