Should we keep an eye on the upside potential of GBP/JPY, which has hit a new high for the year?
15.09.2025
- Europe: Trade Balance
- U.S. New York Fed Manufacturing Index
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, indicating that the market is searching for direction. On the daily chart, the price has been gradually rising since last month, with both the lows and highs moving higher.
European currencies rose as the pound strengthened against the yen following the release of UK July manufacturing output data on the 12th, 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 formed 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 and Import Prices at 15:30, the Eurozone Trade Balance and Canadian Existing Home Sales at 18:00, Canadian Industrial 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 high for the year.
Author: Keisuke Sakurai
