Caution is advised regarding the upside potential of the GBP/JPY pair, which has risen against the yen and hit a new high for the year

Caution is advised regarding the upside potential of the GBP/JPY pair, which has risen against the yen and hit a new high for the year

08.10.2025

In yesterday's U.S. currency markets, the U.S. dollar rose against the Australian dollar.The AUD/USD pair fell from 0.6624 to 0.6578. 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 just below the 200-period simple moving average (SMA), and on the daily chart, it is barely holding above the support line formed by the 20-period MA. Note that during today’s Asian trading session, the price is breaking below the daily 20-period MA, so we should pay close attention to price movements during U.S. trading hours.

Among European currencies, the pound rose against the yen. The GBP/JPY pair rose from 202.152 to 204.089. On the hourly chart, the price moved from the -3σ to the +3σ Bollinger Band. On the 4-hour chart, the uptrend along the 10-period moving average continues, and on the daily chart, the RSI has reached 70. On the weekly chart, the pair has hit a new year-to-date high near the +3σ Bollinger Band.

Today’s economic indicators include Japan’s Monthly Labor Survey at 8:30, Japan’s Balance of Payments at 8:50, Japan’s Economic Watchers Survey at 14:00, Germany’s Industrial Production at 15:00, the U.S. MBA Mortgage Applications Index at 20:00, and at 22:00, U.S. Fed Chair Musalem:St. Louis Fed President’s remarks at 10:30 PM, U.S. Fed Chair Barr’s remarks at 10:30 PM, U.S. weekly crude oil inventories at 11:30 PM, UK MPC Member Pill’s remarks at 12:00 AM, U.S. 10-year Treasury auction at 2:00 AM, and the release of the U.S. FOMC minutes at 3:00 AM.We should remain highly vigilant regarding the upside potential for GBP/JPY, which has risen against the yen and 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