What GBPJPY is
GBPJPY is the price of one British pound in Japanese yen: at 208.14, a pound buys 208.14 yen. It's a cross pair, meaning neither side is the US dollar, and traders call it the "Guppy". It's far less traded than the big dollar pairs, about 0.3% of global turnover in the BIS survey of April 2025, but it's popular for one reason: it moves a lot.
| GBPJPY | Detail |
|---|---|
| Pip | 0.01, the second decimal place |
| Pip value | ¥1,000 per standard lot, about $6.34 at a USDJPY rate of 157.67 |
| Reference rate, 2 October 2026 | 208.14 (from the ECB's euro rates) |
| One pound in rupees | ₹127.16 on the same day |
Because a pip is worth less than $10 per lot and the pair moves further, both the pip value and the stop distance matter more than usual. A 60-pip stop on 1 lot is about $381. The pip value calculator uses the current USDJPY rate for you.
What moves GBPJPY
- Interest-rate differences: UK rates are well above Japan's (3.75% against 1.25% after the September 2026 meetings), so the pair reacts to anything that changes that gap: Bank of England decisions (5 November and 17 December 2026) and Bank of Japan meetings (30 October and 18 December 2026).
- Risk mood: the yen tends to strengthen when markets get nervous; an IMF study found the yen, Swiss franc and US dollar appreciate in risk-off episodes. So GBPJPY often falls sharply in sell-offs and rises in calm markets. See forex market sentiment.
- Japanese intervention: when the yen weakens fast, Japan's authorities have stepped into the market before, which can move every yen pair by hundreds of pips in minutes.
When GBPJPY moves most in India
The Tokyo session, from 05:30 IST, brings yen news, but GBPJPY usually moves most from the London open, 12:30 IST in the British summer and 13:30 IST in winter, through the London–New York overlap. Bank of Japan decisions have no fixed time and often land in the Indian morning.
GBPJPY and Indian traders
NSE doesn't list a GBPJPY contract. Its cross-currency pairs are EURUSD, GBPUSD and USDJPY, so trading GBPJPY itself means an overseas broker, which isn't allowed for residents. You'll mostly see GBPJPY on prop firm accounts, which are simulated; check each firm's rules on volatile pairs and news. The guide to forex trading in India explains the rules.
More live charts in India time: EURUSD, GBPUSD, USDINR and XAUUSD.