With the GBP/JPY pair reversing its upward trend to close with a bearish daily candle, investors are likely to keep a close eye on its direction
15.08.2025
- U.S. New York Fed Manufacturing Index
- Japan's Second-Quarter GDP
In the U.S. currency market the previous day, the U.S. dollar rose after the release of the U.S. July Producer Price Index (PPI), which came in at 3.3% year-over-year—a significant increase from the previous month’s 2.3% and well above the market forecast of 2.5%—reaching its strongest level.The USD/JPY pair, which had been declining, rose from 146.223 to 147.965. It moved within the range of the hourly Bollinger Bands, from -2σ to +2σ. On the 4-hour chart, it showed a sharp recovery after breaking below the 200 SMA.
European currencies saw the pound fluctuate against the yen after yesterday’s release of the UK’s June industrial production figures, which improved to a year-over-year gain of 0.2% from the previous month’s decline of 0.3%.GBP/JPY traded between 198.588 and 200.152, fluctuating around the 20-period moving average on the hourly chart. On the 4-hour chart, the pair is trading while facing resistance at the +σ line of the Bollinger Bands, and on the daily chart, its seven-day winning streak appears to have been temporarily halted.
Today’s economic indicators include Japan’s second-quarter GDP at 8:50, Japan’s industrial production at 13:30, U.S. retail sales, Canadian manufacturing shipments, Canadian wholesale sales, and the U.S. New York Fed Manufacturing Index at 21:30,U.S. Import Price Index; at 22:00, Canadian Existing Home Sales; at 22:15, U.S. Industrial Production and U.S. Capacity Utilization; at 23:00, U.S. University of Michigan Consumer Sentiment Index and U.S. Business Inventories; and at 29:00, U.S. Foreign Investment in U.S. Securities.After extending gains, the GBP/JPY pair reversed course and closed with a bearish daily candle; we will carefully monitor its direction.
Author: Keisuke Sakurai
