A listening test was conducted with 32 participants to obtain data on emotional changes in response to three types of urban soundscape spatial sequences. By establishing a time series model, the relationship between psychoacoustic parameters of the sequence and changes in the two dimensions of emotion was determined. Results showed that psychoacoustic parameters can explain 44% and 40%-49% of the changes in the pleasantness and arousal dimensions of emotion, respectively. Roughness and fluctuation have the highest correlation with emotional changes, while loudness and articulation index have the lowest correlation with emotional changes. This research verified the lags between psychoacoustic changes in the soundscape and the associated perceived emotion. First, there was a 3-4 s lag between psychoacoustic parameters and emotional changes. Second, changes in roughness and loudness could cause synchronous changes in emotions, while other parameters could cause delayed changes in emotions. Finally, the lag of emotion had a strong and stable explanatory power for emotional changes. This research proves the effectiveness of the time series analysis technology in establishing the dynamic relationship between the acoustic parameters of soundscape sequences and the second-by-second perceived emotions and provides a new data analysis method for in-depth study of soundscape sequence perception.