The GBP/JPY pair has corrected from its recent high above 196.50, currently sitting near 194.45 during European trading hours. This sharp retracement follows strong signals from Japan’s central bank regarding interest rate policies. As stronger-than-expected comments from Bank of Japan Deputy Governor Shinichi Uchida circulate, traders are keenly observing how these factors will influence the pair. With ongoing global economic uncertainty, participants in the Forex market will need to stay informed about geopolitical developments and central bank actions.