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 strongest level 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 a resistance level, and on the daily chart, the downtrend along the 20-period moving average (MA) continues. Furthermore, since the price has already broken below the 20-period MA—which had previously served as support—on the weekly chart, we should watch for a potential rise in the US dollar during European trading hours.

Among European currencies, the pound rose against the yen. GBP/JPY 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, while on the daily chart, prices rebounded just before 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 has continued without being broken.

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, the Eurozone Consumer Price Index; at 21:00, South Africa’s Trade Balance; at 21:30, Canada’s Real GDP; at 22:30, remarks by Logan, President of the Dallas Fed; and at 22:45, the US Chicago PMI. 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.