Cross pair · “Guppy”
GBP/JPY: volatility, trading hours and correlation
🇬🇧 British pound against the 🇯🇵 Japanese yen. GBP/JPY has averaged 114 pips a day over the last 90 days, with recent volatility above its one-year norm. It tends to move most between 13:00 and 16:00 UTC.
- Last close
- 209.979 6 October 2026
- Avg daily range
- 114 pips 90 days · 0.54% of price
- 1-year change
- +3.59% GBP stronger vs JPY
- 52-week range
- 199.092 – 219.516 Low to high
GBP/JPY over the last 12 months
Daily closes
When GBP/JPY moves most
Average high-to-low range for each hour of the day over the last year, in pips (UTC). The busiest three-hour window is highlighted.
Want these hours in your own time zone? Open forex market hours.
Average range by weekday
Pips, last 12 months. Wednesday is typically busiest and Monday quietest.
Calendar-year performance
% change in GBP/JPY each year, latest year to date
GBP/JPY seasonality
Average % change by calendar month across the last 9 years. October has been the strongest month on average and July the weakest. Seasonality is a tendency, not a forecast.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg change | +0.63% | +0.57% | +0.08% | +1.06% | -0.26% | +1.26% | -0.55% | -0.55% | +0.68% | +1.78% | +0.01% | -0.01% |
| Years up | 56% | 56% | 56% | 78% | 44% | 67% | 44% | 22% | 56% | 56% | 67% | 67% |
GBP/JPY correlation
Correlation of daily returns with other pairs. +1 means they move together, −1 means they move in opposite directions. How to use correlation.
Biggest daily moves in the last year
The five widest high-to-low days for GBP/JPY.
| Date | Range | Open to close | × normal day |
|---|---|---|---|
| 29 July 2026 | 624 pips | +0.02% | 5.1× |
| 29 April 2026 | 606 pips | -0.01% | 4.9× |
| 2 September 2026 | 433 pips | +0.02% | 3.5× |
| 5 May 2026 | 343 pips | +0.01% | 2.8× |
| 10 February 2026 | 316 pips | 0.00% | 2.6× |
GBP/JPY pip value
Value of a one-pip move (0.01) at the latest price.
| Account currency | Standard lot (1.00) | Mini lot (0.10) | Micro lot (0.01) |
|---|---|---|---|
| 🇺🇸 USD | 6.32 USD | 0.63 USD | 0.063 USD |
| 🇪🇺 EUR | 5.61 EUR | 0.56 EUR | 0.056 EUR |
| 🇬🇧 GBP | 4.76 GBP | 0.48 GBP | 0.048 GBP |
| 🇯🇵 JPY | 1000.00 JPY | 100.00 JPY | 10.000 JPY |
About GBP/JPY
GBP/JPY shows how many Japanese yens (JPY) it takes to buy one British pound (GBP). When the price rises, the British pound is strengthening against the Japanese yen. Traders often call it “Guppy”.
GBP is issued by the Bank of England. It tends to respond to Bank of England rate decisions, UK inflation and wage data, and UK political and fiscal news.
JPY is issued by the Bank of Japan. It tends to respond to Bank of Japan policy, the gap between Japanese and US bond yields, and risk sentiment, as the yen often strengthens in risk-off markets.
With an average range of about 114 pips a day, a stop loss of 34–69 pips is roughly a third to two-thirds of a normal day for GBP/JPY. Always size your position from the stop distance with the lot size calculator.
GBP/JPY FAQ
What is the average daily range of GBP/JPY?
Over the last 90 days GBP/JPY moved an average of 114 pips from high to low each day, about 0.54% of its price. Over the past year the average was 124 pips, and over the last 20 trading days it was 156 pips.
What is the best time to trade GBP/JPY?
In the past year GBP/JPY was most active between 13:00 and 16:00 UTC, and the London session produced the largest average range (102 pips). The quietest hour was 19:00 UTC. Wednesday was its busiest weekday on average.
What is GBP/JPY most correlated with?
Based on daily returns over the last year, GBP/JPY moved most closely with EUR/JPY (correlation 0.89) and most inversely with EUR/GBP (-0.41).
How much is one pip worth on GBP/JPY?
One pip on GBP/JPY is 0.01 of the price. For one standard lot (100,000 GBP) that is 1,000 JPY, or about $6.32 at the latest price. A mini lot is a tenth of that and a micro lot a hundredth.
Statistics are calculated by ForexSignals.io from daily and hourly price history up to 6 October 2026. Hourly figures cover the last 12 months, seasonality the last 9 full years. Data may contain errors and is not a trading recommendation.
Official Telegram channel
Trade ideas, with the reasoning attached.
Our signals go out on Telegram first: entry, stop loss, take profit and the context behind each one. Free to join, leave any time.