All eyes are on whether the pound, which has risen against the yen, will continue to climb higher

All eyes are on whether the pound, which has risen against the yen, will continue to climb higher

09.03.2026

Last weekend, the U.S. dollar fell against the euro following the release of the U.S. February employment report on the 6th, which showed that nonfarm payrolls fell by 92,000—a sharp decline from the previous month’s 130,000 and well below the market forecast of 60,000.The EUR/USD pair rose from 1.1546 to 1.1621. A rebound occurred from the -2σ level of the hourly Bollinger Bands. On the 4-hour chart, the RSI, which had fallen to 22, recovered to 46. On the daily chart, the 200-day EMA is acting as a support level, and a rebound is underway.

Among European currencies, the pound rose against the yen.GBP/JPY rose from 209.962 to 211.533. The 200-period SMA on the hourly chart acted as a support line, causing prices to turn upward. On the 4-hour chart, the price has expanded from the -2σ to the +3σ Bollinger Bands, and on the daily chart, it has hit a new high for the month while finding support at the 75-period MA. Furthermore, on the weekly chart, the uptrend along the 20-period MA has remained intact since May of last year.

Today’s economic indicators include Japan’s Monthly Labor Survey at 8:30 a.m., Japan’s Balance of Payments at 8:50 a.m., Japan’s Economic Trend Index at 2:00 p.m., Japan’s Economic Watchers Survey at 3:00 p.m., and Germany’s New Manufacturing Orders and Manufacturing Orders at 4:00 p.m. No other major economic indicators or key speeches are scheduled.We will be watching to see if the pound, which has risen against the yen, continues to extend its gains.

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