Should we wait and see how much further the pound can rise against the yen?

Should we wait and see how much further the pound can rise against the yen?

23.02.2026

Last weekend, the Canadian dollar fluctuated against the U.S. dollar after Canada’s December retail sales figures, released on the 20th, showed a decline of 0.4% from the previous month’s 1.3% increase.The USD/CAD pair traded between 1.3670 and 1.3710, fluctuating throughout the session around the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, resistance is being encountered just below the 200-period exponential moving average (EMA), while on the daily chart, the pair is currently searching for direction just below the 20-period MA.

European currencies saw the pound rise against the yen after the UK’s January retail sales figures, released on the 20th, showed a year-on-year increase of 4.5%, up from 2.5% the previous month. GBP/JPY rose from 208.395 to 209.671, with the rise tracking the 20-period moving average on the hourly chart.On the 4-hour chart, the candlesticks rose to the +2σ level of the Bollinger Bands. On the daily chart, prices are currently rising just below the 75-day moving average.

Today’s economic indicators include New Zealand retail sales at 6:45 a.m., Swiss producer import prices at 4:30 p.m., the German IFO Business Climate Index at 6:00 p.m., and at 8:00 p.m., remarks byremarks by MPC member Taylor, 10:00 PM US remarks by Fed Governor Waller, 10:30 PM US Chicago Fed National Activity Index, 12:00 AM US factory orders, 12:30 AM US Dallas Fed Manufacturing Activity Index, and 2:30 AM EU remarks by ECB President Lagarde.We want to carefully assess the upside potential for the pound, which has risen against the yen.

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