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

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

03.10.2025

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

Among European currencies, the pound continued to fall against the yen. The GBP/JPY pair fell 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, and the Eurozone’sProducer Price Index, at 6:40 p.m. remarks by ECB President Lagarde, at 7:05 p.m. remarks by Williams,remarks by New York Fed President Williams at 22:20, remarks by UK BOE Governor Bailey at 22:45, U.S. PMI at 23:00, U.S. ISM Non-Manufacturing Index at 23:00, and remarks by U.S. Dallas Fed President Logan at 26:30.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 an eye on price movements during European trading hours to see if the pound, which has fallen against the yen, will continue its decline.