All eyes are on whether the pound, which has risen against the yen, will continue to hit new highs during European trading hours

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

In the previous day's U.S. currency trading, the U.S. dollar reached its peak during U.S. trading hours.The EUR/USD pair fell from 1.1636 to 1.1547. It declined as the upside was capped by the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the 200-period exponential moving average (EMA) is acting as an upper resistance zone, while on the daily chart, the downtrend along the 20-period moving average (MA) continues. Furthermore, since the pair 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 climbed from 200.974 to 203.247, temporarily breaking above the 200-period SMA on the hourly chart. On the 4-hour chart, the 200-period SMA is acting as a support level, leading to a rebound; on the daily chart, prices rebounded just short of the 75-period MA and have since retreated to just below the 20-period MA.Thanks to yesterday’s rise, the uptrend on the weekly chart that 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 a.m., Japan’s industrial production and retail sales at 8:50 a.m., Australia’s Producer Price Index at 9:30 a.m., Japan’s housing starts at 2:00 p.m., Germany’s import price index and retail sales at 4:00 p.m.,UK Nationwide House Prices at 19:00, Eurozone Consumer Price Index at 21:00, South Africa Trade Balance at 21:30, Canada Real GDP at 22:30, US remarks by Logan, President of the Dallas Fed, at 22:30, and US Chicago PMI at 22:45. We will be watching for signs of whether the pound, which has risen against the yen, will continue to hit new highs during European trading hours.

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