GBPJPY had jumped in larger scale from the end of Nov to early Dec. It has gone down for the last week, and GBPJPY has reached the same level around the end of last month. The range for last two weeks was around 185 - 189, which is relatively wide range.The election has been held in Japan, and it resulted as market expected. Basically liberal-democratic party winning should work for JPY down, however the result was widely expected in the market already. JPY is stronger against major currencies, such as USD, GBP or EUR after FX market opened this week.
Trend and momentum of GBPJPY indicates it could be going up in this week. On the other hand, uncertainty in JPY has been mitigated as the election ended as expected, and the upside could be limited because the election result has been already taken into account.
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