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GBP/JPY is caught in a crowded trade, with GBP/JPY direction unclear.
The Bank of Japan once again hinted that it will end its negative interest rate policy if wages increase next year.
The post-holiday market is struggling to find significant momentum.
After the GBP/JPY failed to reach 182.10 points, it returned to the shock range and turned back to close to the 181.00 mark. The yen strengthened after Bank of Japan Governor Kazuo Ueda reiterated comments that negative interest rates may end.
In other news: The probability of ending negative interest rates next year is not zero.
Bank of Japan Governor Kazuo Ueda’s speech caused the yen to rise slightly, but GBP/JPY still maintains near-term technical support and two-way momentum is limited.
