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Thinking of trading GBPJPY?

    1. The GBP/JPY is thought of as a gauge for global economic health, as it reflects issues affecting both Western Europe's monetary policies and those in the Asia-Pacific region. Both the GBP and the JPY are part of the elite basket of 7 denominations that consolidate the International Monetary Fund's (IMF) in-house money formed in 1944. The UK and Japan are both members of the Group of Seven leading economies. 2. Apart from this pair not being related to the US, they are very different between each other, they are almost completely out of sync regarding monetary policy and that should help the traders make educated guesses to where this pair moves.
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The nickname from the pair GBP/JPY is probably the most powerful and meaningful in a poetic way. It is called the Beast, Dragon, or a more common name, the Geppy. As with the rest of the forex pairs, GBP/JPY portrays the relative value of the Sterling pound over the Japanese yen. The pair is considered a 'cross'. This means the US dollar is not used when calculating the exchange rate.The GBP date back to around 775, it evolved to its modern form by following decimalisation in 1971. It is the fourth most traded currency in the FX market. The history of the Japanese yen dates back to 1871 by the Meji government and its growth is due in large part, to the strong Japanese industrial complex. The strongest price of the GBP/JPY was in 2007 when it was trading at 247.945 and its lowest point in 2011 trading at 116.837. Currently, the Geppy is trading at 138.70. As other JPY-currency pairs, traders should be additionally careful to wars and natural disaster news, not only on the typical events that would have an effect on the pair.

1. It is worth keeping an eye on the relationship between the Japanese yen and the energy industry. Japan's economic growth relies on the commodity prices such as the importation of crude oil and natural gas. In 2014, Japan was the 4th biggest importer of crude oil. Historically, it is demonstrated that there is a direct correlation between the yen and the global energy prices. Meaning that when the energy prices drop so does the yen, and vice versa. 2. Of course, we cannot miss the monetary policies from either country. The BoE's (Bank of England) and the BoJ's (Bank of Japan) interest rates decision will directly impact the direction of the GBP/JPY. The traders should definitely have the Consumer Price Index (CPI) announcements under control, as it is a key indicator of JPY-related currency crosses. 3. Bonds such as the Gilt and the GJGB10 will have an influence in the pair, as well as some other Indices such as the UK 100 and the Nikkei 225, which will move the pair depending on their respective success.