GBPJPY fundamental analysis question

Hi guys, I noticed that on GBPJPY daily chart, that on 15th Oct there was a bull movement. According to FF calendar, it seems to be because of BOJ upgrading its economic assessment. If the japanese economy was to be better, will it not imply shorting of the GBP? Instead, there is a moderate bull movement.

I checked with the other pairs (USDJPY and EURJPY) dailies, it is the similar outcome, with a bull movement. Thinking it could be the influence of other news, I checked with other USD major pairs, it turns out that there was nothing significant on that date.

That movement probably had nothing to do with the news. Fundamental indicators and news aren't the only forces that move the currency rates.

Ask any seasoned trader about the pair GBP/JPY and they will nod knowingly, laugh manically, faint, go quiet and start chewing their fingernails, roll their eyes or any number of interesting behaviours.

For a start, if you are a beginner, I would forget about fundamentals except for the very obvious, and learn to trade. GBP/JPY is tradeable but has a higher range than most pairs and is volatile and tricky for a beginner.

Add to this a most confusing fundamental: The new Japanese government has changed its mind publicly twice regarding monetary intervention on Yen value in the last month and the BOJ has a reputation for not giving warnings when it is going to intervene.

Does that answer your question?

Perhaps that's one of the many reasons why this pair is volatile, when the Japanese government is rather ficker-minded on its monetary policy. Hmm, I was just pondering on the significance of the announcement. After seeing what the British preliminary GDP announcement did to the pair, I saw this big bull candle and thought there must be a bigger announcement.

Thanks for the comment, I didnt know about the behaviours of the Japanese government and the BOJ before this post.