All eyes are on whether the U.S. dollar, which has fallen against the yen, will continue to slide
16.12.2025
- U.S. Manufacturing/Non-Manufacturing PMI
- UK Unemployment Rate
In the U.S. currency market yesterday, the U.S. dollar fell against the yen. The USD/JPY pair dropped from 155.979 to 154.837. A downtrend has emerged along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is hovering on the verge of breaking below the 200-period simple moving average (SMA) line that had been providing support, while on the daily chart, it has failed to reach new highs and has fallen to the range of this month’s lows.
Among European currencies, the pound fell against the yen. GBP/JPY dropped from 208.433 to 207.083, breaking below the support line formed by the 200-period SMA on the hourly chart.On the 4-hour chart, the pair has already broken below the 75-MA support line, and on the daily chart, it is hovering on the verge of breaking the 20-MA uptrend line. Given the downward pressure observed during today’s Asian session, we will be watching for further weakness in the pound during the U.S. session.
Today’s schedule includes the Australian Westpac Consumer Confidence Index at 8:30, the UK Unemployment Rate at 16:00, the French Manufacturing/Non-Manufacturing PMI at 17:15, the German Manufacturing/Non-Manufacturing PMI at 17:30, the Eurozone Manufacturing/Non-Manufacturing PMI at 18:00, and the UK Manufacturing/Non-Manufacturing PMI, the Eurozone ZEW Economic Sentiment Survey and the German ZEW Economic Sentiment Survey at 7:00 PM, the U.S. Employment Report and U.S. Retail Sales at 10:30 PM, the U.S. Manufacturing/Non-Manufacturing PMI at 11:45 PM, U.S. Business Inventories at 12:00 AM, and remarks by Bank of Canada Governor MacLeam at 2:45 AM.We will be watching closely to see if the US dollar, which has fallen against the yen, will extend its decline.
Author: Keisuke Sakurai
