Trading hours
GBP/JPY typically trades from Sunday 22:00 to Friday 22:00 UK time (5pm to 5pm New York time), with no daily break beyond a brief pause at some brokers around the 22:00 UK rollover. Times on your chart follow your broker's server clock.
| When | UK time | New York time | Note |
|---|---|---|---|
| Weekly open | Sunday 22:00 (21:00 in the gap weeks) | Sunday 17:00 | Typically, at most CFD brokers. Wellington and Sydney are already in their Monday morning. Spreads are often wide in the first minutes and there can be a gap from Friday's close. |
| Daily rollover | 22:00 each weekday (21:00 in the gap weeks) | 17:00 | The trading day ends and overnight financing (swap) is charged. There is typically no long break, but spreads widen for a few minutes and some brokers pause quotes briefly. |
| Friday close | Friday 22:00 (21:00 in the gap weeks) | Friday 17:00 | Typically. Many brokers stop a few minutes early, for example Pepperstone closes all markets 5 minutes early on Fridays. Closed all of Saturday. |
| Busiest hours | 07:00 to 11:00 and 13:30 to 16:00 | 02:00 to 06:00 and 08:30 to 11:00 | Typically. London's open with UK data, then US data and the London and New York overlap. |
Forex hours follow New York time: the week opens on Sunday and closes on Friday at 5pm New York time. For most of the year that is 22:00 UK. The US and UK change clocks on different Sundays, so in the gap weeks it is 21:00 UK. In autumn 2026 the UK moved back on 25 October and the US on 1 November; in spring 2027 the US moves forward on 14 March and the UK on 28 March, so from 14 to 28 March the open, close and rollover are at 21:00 UK and US data at 8:30am New York time lands at 12:30 UK instead of 13:30. European releases (UK, eurozone and Swiss) stay at the same UK time all year, because those countries change clocks on the same dates as the UK. Japan does not change its clocks, so Tokyo data at 08:30 Tokyo time lands at 23:30 UK in winter and 00:30 UK in summer. Times on your broker's chart follow its server clock, which many brokers set to GMT+2 in winter and GMT+3 in summer so the daily candle starts at the 5pm New York rollover. Check your broker's own contract page.
What is GBP/JPY?
GBP/JPY shows how many Japanese yen one British pound buys. If it reads 195.00, one pound costs 195 yen. Traders often call it the Beast or the Dragon because its daily moves in pips are usually among the largest of any major cross.
It combines the pound, which reacts strongly to UK data and the Bank of England, with the yen, which reacts to the Bank of Japan and to fear in world markets. Its price is effectively GBP/USD multiplied by USD/JPY, so news on either of those can move it.
The trading sessions
Tokyo is open. GBP/JPY can still move here on Japanese news, but ranges are usually smaller than later in the day.
UK data at 07:00 and London's open often bring the first big move, frequently a break of the Asian high or low.
US data at 13:30 UK moves USD/JPY and GBP/USD together, so GBP/JPY can swing hard. It usually slows after 17:00 UK.
Often the second busiest window, as US data and the overlap add volume.
Contract facts
One pip is 0.01 (the second decimal place). Most brokers quote one more decimal, a tenth of a pip, often called a pipette or point.
1 standard lot = 100,000 pounds (the first currency in the pair). A mini lot (0.1) is 10,000 and a micro lot (0.01) is 1,000.
One pip (0.01) on 1 standard lot is worth 1,000 yen (100,000 x 0.01). On a mini lot (0.1) it is 100 yen and on a micro lot (0.01) it is 10 yen. To see it in your account currency, your platform converts at the current rate.
Most GBP/JPY trading happens in the spot market between banks and through CFDs. Cross rate futures volume is small, so CFD and spot prices are what most traders watch.
How far it usually moves
Varies with conditions; check the Average daily range indicator on WickSpeak for the current figure in pips. We do not publish a fixed number for GBP/JPY because we could not verify one from an official source.
What moves GBP/JPY
Expectations for UK interest rates are the biggest single driver of the pound.
UK inflation, wages, jobs and monthly GDP, all released at 07:00 UK, move the pound before London is fully awake.
Any sign the Bank of Japan will raise rates further, or step in to support the yen, tends to strengthen the yen sharply.
The yen is often bought when markets are fearful and sold when stocks are calm and rising, so GBP/JPY tends to fall in a sell off.
Japanese rates are low, so traders who borrow yen to hold the higher yielding pound (the carry trade) support GBP/JPY, and unwind fast when fear rises.
When the yen weakens fast, Japan's finance ministry may buy yen, which has produced sudden drops of several hundred pips in GBP/JPY in the past.
Scheduled events to watch
Sets UK interest rates for the pound side of GBP/JPY; eight a year, the next after today (5 November) is 17 December 2026, then 4 February and 18 March 2027.
The statement comes out when the two day meeting ends; next meeting 17 to 18 December 2026, then 21 to 22 January 2027.
Published monthly by the Office for National Statistics, usually mid month; a surprise moves Bank of England expectations at once.
Released at 08:30 Tokyo time, an early monthly read on Japanese inflation that feeds Bank of Japan expectations.
Monthly from the ONS; wage growth is watched closely by the Bank of England.
What it tends to move with
GBP/JPY tends to rise when either rises, and moves most when both move the same way.
The two usually move together because of the shared yen side, with GBP/JPY often moving further.
GBP/JPY has often risen in calm, rising stock markets and fallen fast in sell offs.
Tips for trading GBP/JPY
Size for big swings
GBP/JPY often moves well over 100 pips in a day. Use the Average daily range indicator and cut your lot size so a structure stop still fits; if the stop needs more than about half the day's average range, the setup is too loose.
Asian range break at 07:00
Mark the 00:00 to 07:00 UK range. A London close above the high is a long idea; a 15 minute close back inside the range proves it wrong.
Do not fight risk off
When stocks fall sharply, GBP/JPY usually follows. A long idea is proved wrong by a close below the day's low while indices are falling.
Two central banks, two clocks
The Bank of England speaks at 12:00 UK and the Bank of Japan in the early hours. Treat the hour after either as noise, and let a close beyond the pre-news range decide your side.
Expect wide spreads overnight
Spreads on GBP/JPY are often wider than on majors, and widest around 22:00 UK. Keep stops beyond structure, not a few pips away.
Connect a cTrader account once and, if your broker offers GBP/JPY, it appears on WickSpeak at your broker's own prices. Key levels show the previous day high and low, pivot points, round numbers and average daily range levels with how many pips away each is, Time of day DNA shows when GBP/JPY has tended to move, and every indicator writes a plain-English reading on the live candle. A Playbook play can alert you, paper trade, or place a trade inside guardrails you set, only on a play where you switched live trading on.
Related markets
Sources: pepperstone.com, pepperstone.com, bankofengland.co.uk, ons.gov.uk, boj.or.jp. Checked 2026-11-05. Broker hours follow your broker's server clock and can differ.
Questions traders ask
What are GBP/JPY trading hours in the UK?
GBP/JPY typically trades from Sunday 22:00 to Friday 22:00 UK time, which is 5pm Sunday to 5pm Friday in New York. In the few weeks when the US and UK clocks change on different dates, the open and close are at 21:00 UK. It does not trade on Saturdays.
What is the best time to trade GBP/JPY?
Typically 07:00 to 11:00 UK, at the London open with UK data, and again from 13:30 to 16:00 UK when US data and the London and New York overlap add volume. The late US afternoon and the Asian session are usually calmer.
Why is GBP/JPY so volatile?
It joins two currencies that react to very different things: UK interest rates and data on one side, the Bank of Japan and world market fear on the other. Its price also multiplies GBP/USD by USD/JPY, so moves in both add together.
Why is GBP/JPY called the Beast?
It is a trader nickname for its large, fast swings in pips. It is not an official name, and its size changes with conditions, so check the current average daily range rather than relying on reputation.
How much is 1 pip on GBP/JPY worth?
On 1 standard lot of 100,000 pounds, one pip (0.01) is worth 1,000 yen. On 0.1 lots it is 100 yen and on 0.01 lots it is 10 yen. Your platform shows it in your account currency at the current rate.