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Market Participants May Be Watching for the Pound's Potential Rebound After Its Decline Against the Yen

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Market Participants May Be Watching for the Pound's Potential Rebound After Its Decline Against the Yen

02.12.2025

Today's Highlights
  1. Japan: Monetary Base
  2. European Consumer Price Index

In the U.S. currency market yesterday, the U.S. dollar fell against the yen despite the fact that the U.S. November PMI (Purchasing Managers’ Index), released yesterday, improved to 52.2 from 51.9 the previous month.The USD/JPY pair fell from 156.153 to 154.675. A band walk was observed along the -2σ line of the hourly Bollinger Bands. On the 4-hour chart, the RSI fell from 47 to 26, and on the daily chart, the price broke below the 20-day moving average (20MA), which had been providing temporary support.

Among European currencies, the pound was the weakest during U.S. trading hours. The GBP/JPY pair fell from 206.765 to 205.191, breaking below the support line formed by the 200-period SMA on the hourly chart.On the 4-hour chart, the price has fallen to the 75-MA line, and on the daily chart, it has pulled back after touching the +2σ level of the Bollinger Bands. Meanwhile, a rebound of about 40 pips has been observed during today’s Asian trading session.

Today’s economic indicators include remarks by RBNZ Governor Breman at 6:10, Japan’s monetary base at 8:50, Australia’s current account balance and housing construction permits at 9:30,10:00: Remarks by U.S. Federal Reserve Chair Powell; 14:00: Japan’s Consumer Sentiment Index; 16:00: UK’s Nationwide House Price Index and the release of the Bank of England’s Financial Stability Report; 18:30: South Africa’s current account balance;7:00 p.m. – Eurozone employment data and consumer price index; and at midnight – remarks by Fed Chair Bowman. We will be closely monitoring the pound’s potential for recovery after its decline against the yen.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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Will the falling USD/JPY pair continue to test lower levels? Keep a close eye on price movements at the start of the week.

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Will the U.S. dollar, which has been weakening against the euro, rebound? All eyes are on price movements during European trading hours.
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