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

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

15.09.2025

In the U.S. currency markets last weekend, the U.S. dollar fell slightly against the euro. The EUR/USD pair traded between 1.1701 and 1.1747. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the RSI is hovering around 50 just below the 20-period MA, with price action seeking direction. On the daily chart, the pair has been gradually raising both its lows and highs since last month, indicating an upward trend.

European currencies rose as the pound strengthened against the yen following the release on the 12th of UK manufacturing output data for July, which showed a year-on-year increase of 0.2%, up from 0.0% the previous month. The GBP/JPY pair rose from 199.618 to 200.478. An uptrend has emerged along the 20-period moving average on the hourly chart. On the 4-hour chart, the price has reached the +3σ level of the Bollinger Bands, and on the daily chart, it has hit a new high for the year.

Today’s economic indicators include the UK Rightmove House Price Index at 8:01, Swiss Producer Import Prices at 15:30, the Eurozone Trade Balance and Canadian Existing Home Sales at 18:00, Canadian Manufacturing Production and Wholesale Sales, and the NY Fed Manufacturing Index at 21:30, followed by remarks from ECB President Lagarde at 27:10.We will closely monitor the upside potential of GBP/JPY, which has hit a new year-to-date high.

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