Will the pound, which has risen against the yen, continue its upward trend? Market participants are keeping a close eye on price movements during European trading hours.

Will the pound, which has risen against the yen, continue its upward trend? Market participants are keeping a close eye on price movements during European trading hours.

11.03.2026

In yesterday's U.S. currency markets, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 115.842 to 116.606. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the 20-period MA acted as support, causing the price to rebound. On the daily chart, the RSI has reached 70, indicating overbought conditions, and the price is currently extending its gains toward a new year-to-date high.

Among European currencies, the pound continued to rise against the yen. The GBP/JPY pair climbed from 211.579 to 212.401, moving in line with the 20-period moving average on the hourly chart. On the 4-hour chart, the price continues to move along the +2σ line of the Bollinger Bands. On the daily chart, the RSI—which had been in a downtrend—has rebounded from 48 to 60 and is currently in the process of reaching a new high for the month.

Today’s economic indicators include Japan’s Domestic Corporate Goods Price Index at 8:50, Germany’s Consumer Price Index at 16:00, remarks by BOE Deputy Governor Breeden at 19:00, the U.S. MBA Mortgage Applications Index at 20:00, the U.S. Consumer Price Index and remarks by Fed Vice Chair Bowman at 21:30, and U.S. weekly crude oil inventories at 23:30.22:00: U.S. 10-Year Treasury Auction; 27:00: U.S. Budget Balance; and 6:45 the following day: NZQ4 Manufacturing Sales. We will be watching price movements during European trading hours to see if the pound, which has risen against the yen, will continue its upward trend.