GBP/JPY is a major forex pair representing the exchange rate between the British pound and the Japanese yen. It is known for its volatility and is heavily traded in the foreign exchange market.
Description: GBP/JPY, also known as the 'Gopher' or 'Geppy,' is a cross-currency pair that does not involve the US dollar. It combines the British pound (GBP) and the Japanese yen (JPY), two major currencies from developed economies. The pair is influenced by economic indicators from the UK and Japan, such as GDP, inflation, interest rates set by the Bank of England and the Bank of Japan, and geopolitical events. It is popular among traders due to its high volatility and potential for significant price movements. The pair is traded 24 hours a day during the forex market week, with liquidity concentrated during the London and Tokyo trading sessions.