The GBP/JPY currency pair is showing a negative trend on Wednesday, following a pullback from the mid-213.00s level. The exchange rate has dipped to just above 212.00, breaking a two-day winning streak. Market sentiment remains cautious in the wake of the UK's latest Consumer Price Index (CPI) data, which has contributed to the downside pressure.
As traders shift their focus to the Bank of Japan's (BoJ) impending monetary policy decisions, the cross appears to be trapped within a bearish bias. The potential implications of the BoJ's actions could further influence the GBP/JPY exchange rate in the coming sessions, as market participants assess the overall impact on both the British and Japanese economies.
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Data Source: FX Killer Analysis Team Updated: 2026-01-21 09:32
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.