All eyes are on whether the pound, which has risen against the yen, will continue to hit new highs during European trading hours.
31.10.2025
- European Consumer Price Index
- Canada: Real GDP
In U.S. currency trading the previous day, the U.S. dollar reached its strongest level during U.S. trading hours. The EUR/USD pair fell from 1.1636 to 1.1547, with the 200-period SMA on the hourly chart capping its upside.On the 4-hour chart, the 200-period EMA is acting as a resistance level, while on the daily chart, the downtrend along the 20-period MA continues. Furthermore, since the price has already broken below the 20-period MA—which had previously served as support—on the weekly chart, traders should watch for a potential rise in the U.S. dollar during European trading hours.
Among European currencies, the pound rose against the yen. The GBP/JPY pair rose from 200.974 to 203.247, temporarily breaking above the 200-period SMA on the hourly chart.On the 4-hour chart, the 200 SMA is acting as a support level, triggering a rebound; on the daily chart, the price rebounded just short of the 75 MA and has since pulled back to just below the 20 MA. Yesterday’s rise has ensured that the uptrend on the weekly chart—which began in April of this year—remains intact and continues.
Today’s economic indicators include Japan’s employment statistics and Tokyo Consumer Price Index at 8:30, Japan’s industrial production and retail sales at 8:50, and Australia’sProducer Price Index; at 14:00, Japan’s Housing Starts; at 16:00, Germany’s Import Price Index and Retail Sales, and the UK’s Nationwide House Prices; at 19:00, the Eurozone’s Consumer Price Index; at 21:00, South Africa’s Trade Balance;at 21:30: Canada’s real GDP; at 22:30: U.S. remarks by Logan, President of the Dallas Fed; and at 22:45: U.S. Chicago Purchasing Managers’ Index. We’ll be watching to see if the pound, which has risen against the yen, continues to hit new highs during European trading hours.
Author: Keisuke Sakurai
