GBPJPY March 2026 fundamental analysisGBP/JPYOANDA:GBPJPYOneirotradeFundamentals: BoE still offers a materially higher policy rate than BoJ (3.75% vs 0.75%) and even after eventual UK cuts, sterling will retain a sizable yield advantage. Japan’s disinflation in Tokyo and the political pushback against further BoJ tightening point to continued yen weakness in the near term. Recent trend & outlook: GBP/JPY is trading around 210–214, close to the upper end of its 2026 range, up nearly 1% year‑to‑date. The cross has been in a steady, if choppy, uptrend as carry demand and yen weakness persist. Short‑term, the main risk is BoJ or joint intervention headlines, but the base case still favours further yen underperformance. Verdict: Buy GBP/JPY, carry‑driven GBP strength vs JPY likely to persist over the month, but volatility risk is high.