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 U.S. currency trading the previous day, the Canadian dollar rose against the yen. The CAD/JPY pair rose from 115.842 to 116.606. It moved from below the 20-period moving average (MA) on the hourly chart to above it.On the 4-hour chart, the 20-period moving average (MA) acted as support, causing the price to rebound. On the daily chart, the RSI has reached 70—an overbought signal—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 rose from 211.579 to 212.401.The price rose along 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, and 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 setting a new high for the month.

Today’s economic indicators include the Japan Corporate Goods Price Index at 8:50, the Germany 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 at 21:30,remarks by U.S. Federal Reserve Vice Chair Bowman, U.S. weekly crude oil inventories at 23:30, a U.S. 10-year Treasury auction at 22:00, the U.S. budget balance at 27:00, and New Zealand’s fourth-quarter manufacturing sales at 6:45 the following day.We’ll be watching price movements during European trading hours to see if the pound, which has risen against the yen, will continue its upward trend.