The GBP/JPY currency pair has pulled back to around 196.15 during late Asian trading hours. Earlier in the day, it had reached a remarkable five-month high of approximately 196.85. This decline comes as the Japanese Yen gains traction following the Bank of Japan’s (BoJ) latest monetary policy statement. The BoJ has maintained interest rates at 0.5% for the third consecutive meeting. Traders are responding to the BoJ’s decisions by shifting their positions, highlighting the dynamic nature of the forex market. This development serves as a reminder of the influence central bank policies have on currency movements.