Market participants are keeping a close eye on the pound’s potential for recovery after its decline against the yen
02.12.2025
- Japan: Monetary Base
- European Consumer Price Index
In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen despite the November U.S. PMI (Purchasing Managers’ Index) released yesterday improving to 52.2 from 51.9 the previous month. The USD/JPY pair declined from 156.153 to 154.675. A band walk along the -2σ line of the hourly Bollinger Bands was observed.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 (MA), 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 of the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the price has fallen to the 75-period SMA, and on the daily chart, it has pulled back after touching the +2σ line of the Bollinger Bands. However, a rebound of approximately 40 pips has been observed during today’s Asian trading session.
Today’s economic indicators include remarks by RBNZ Governor Breman at 6:10 a.m., Japan’s monetary base at 8:50 a.m., Australia’s current account balance and housing construction permits, at 10:00 a.m. remarks by Fed Chair Powell, at 2:00 p.m. Japan’s Consumer Sentiment Index, at 4:00 p.m. the UK’s Nationwide House Price Index and the BOE Financial Stability Report, at 6:30 p.m. South Africa’s current account balance,7:00 PM: Eurozone employment data and consumer price index; and at 12:00 AM: remarks by Fed Chair Bowman. We will be watching for any potential recovery in the pound, which has fallen against the yen.
Author: Keisuke Sakurai
