The U.K. has a year on year inflation of 0.50%, figure for December 2014, while Japan has a year on year inflation of 2.40% for the same month, its YoY monthly inflation change averaged 2.73% in 2014 compared to the U.K. which saw YoY inflation drop from from 1.90% in January to 0.50% in December. The outlooks for both countries remain unchanged. Looking at the chart it looks to me like the correction in GBP/JPY which started several weeks ago may be over. Price range getting close to the support of the ichimoku cloud and last week candle stick closed as an upside down hammer giving more argument to reversal of the correction.

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