Should we keep an eye on the upside potential of the GBP/JPY pair, which has hit a new high for the year?

Should we keep an eye on the upside potential of the GBP/JPY pair, which has hit a new high for the year?

09.12.2025

In yesterday’s U.S. trading session, the U.S. dollar reached its strongest level. The USD/JPY pair rose from 154.902 to 155.986. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the 200-period simple moving average (SMA) is acting as a support level, causing the price to rebound, while on the daily chart, the price has recovered from below the 20-period MA, which it had temporarily broken below. During today’s Asian trading session, the price is holding above the daily 20-period MA.

Among European currencies, the pound rose against the yen. The GBP/JPY pair climbed from 206.589 to 207.801. The uptrend along the 10-period moving average on the hourly chart continued. On the 4-hour chart, the candlesticks have extended to the +2σ level of the Bollinger Bands, and on the daily chart, the pair has risen for two consecutive days, setting a new year-to-date high. As the pair has also hit a new high during today’s Asian trading session, we will be closely monitoring the pound’s performance during U.S. trading hours.

Today’s schedule includes the Australian NAB Business Confidence Index at 9:30, the RBA policy rate decision and statement at 12:30, a press conference by RBA Governor Block at 13:30, remarks by Bank of Japan Governor Ueda at 14:30, Japanese machine tool orders at 15:00, the German trade balance at 16:00, and at 17:00, remarks by Germanremarks by German Bundesbank President Nagel, at 6:00 PM remarks by BOJ Governor Ueda, at 8:00 PM the U.S. NFIB Small Business Optimism Index, at 12:00 AM U.S. JOLTS Job Openings and Labor Turnover Survey and the U.S. Leading Economic Index, at 3:00 AM the U.S. 10-year Treasury auction, and at 4:10 AM remarks by RBNZ Governor Breman.We will be watching for further upside potential in GBP/JPY, which has hit a new year-to-date high.

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