Will the pound, which has fallen against the yen, continue its decline? Keep an eye on price movements during European trading hours.

Will the pound, which has fallen against the yen, continue to slide? Keep an eye on price movements during European trading hours.

03.10.2025

In the previous day's U.S. currency trading, the U.S. dollar rose against the yen.The USD/JPY pair rose from 146.599 to 147.524. It moved from the -3σ to the +2σ levels on the hourly Bollinger Bands. On the 4-hour chart, the pair is currently attempting to break above the 200-period SMA, while on the daily chart, it is rebounding from the lower boundary of the range that has persisted since the month before last. As the pair has been rising during today’s Asian session, we will monitor whether the US dollar maintains its strength during the US session.

Among European currencies, the pound continued to fall against the yen. The GBP/JPY pair dropped from 198.618 to 197.484. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the price has fallen to the -2σ level of the Bollinger Bands, and on the daily chart, it has broken below the 75-period MA, which had previously served as support. Meanwhile, during today’s Asian trading session, the price has rebounded to near yesterday’s high.

Today’s schedule includes: Japan’s employment statistics at 8:30, remarks by Bank of Japan Governor Ueda at 10:05, Germany’s non-manufacturing PMI at 16:55, the Eurozone’s services PMI at 17:00, the UK’s services PMI at 17:30, the Eurozone’s producer price index at 18:00, and the Eurozone’sECB President Lagarde’s remarks, U.S. NY Fed President Williams’ remarks at 7:05 PM, UK BOE Governor Bailey’s remarks at 10:20 PM, U.S. PMI at 10:45 PM, U.S. ISM Non-Manufacturing Index at 11:00 PM, and U.S. Dallas Fed President Logan’s remarks at 2:30 AM.Note that the U.S. employment report, originally scheduled for 21:30, has been postponed due to the U.S. government shutdown. We should keep a close eye on price movements during European trading hours to see if the pound, which has already fallen against the yen, will continue its decline.