All eyes are on whether the GBP/JPY’s sideways trading range near its all-time high will show a clear direction.

All eyes are on whether the GBP/JPY pair’s consolidation near its all-time high will signal a clear direction.

19.08.2025

In the U.S. currency market the previous day, the U.S. dollar rose against the euro. The EUR/USD pair fell from 1.1715 to 1.1656.On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, prices have fallen after failing to break above last week’s high, and on the daily chart, the price is barely finding support at the 20-period MA. However, on the weekly chart, the price has not yet broken below the 10-period MA support line, so we should keep an eye on price movements heading into the second half of the week.

Among European currencies, the pound rose against the yen. The GBP/JPY pair traded between 199.392 and 200.256. It rose as the 20-period moving average (MA) on the hourly chart acted as a support level.On the 4-hour chart, price action lacks clear direction as it fluctuates above and below the 20-period moving average (MA). On the daily chart, the pair is trading near its year-to-date high and is currently attempting to reach new highs while finding support from the 10-period MA.

Today’s economic indicators include Japanese 1-year and 20-year fixed-rate government bond auctions (time TBD), New Zealand’s Producer Price Index at 7:45, Australia’s Westpac Consumer Confidence Index at 9:30, the Eurozone’s current account balance at 17:00,at 21:30, U.S. housing starts, Canada’s Consumer Price Index, and U.S. building permits; and at 27:10, remarks by Fed Vice Chair Bowman. We will be watching closely to see if the GBP/JPY pair, which has been consolidating near its year-to-date highs, will show a clear directional trend.