Seasonality · GBP/JPY · 12 November 2026
GBP/JPY seasonality: is November bullish for GBP/JPY?
Over the last 14 years (2012 to 2025), GBP/JPY rose in November 10 times, with an average move of +1.68% and a median of +1.48%. December, the month ahead, has risen in 10 of 15 years, +0.43% on average (median +0.95%).
Its best month on average is November (+1.68%, up in 10 of 14) and its worst is July (−0.57%, up in 5 of 15).
The seasonal pattern: average return by month
Monthly seasonal returns, all 12 months
| Month | Average | Median | Up years | Best | Worst | Sample |
|---|---|---|---|---|---|---|
| January | −0.20% | +0.49% | 8 of 15 | +3.71% (2024) | −5.48% (2015) | 2012–2026 |
| February | +0.03% | −0.24% | 7 of 15 | +7.56% (2012) | −8.43% (2016) | 2012–2026 |
| March | +0.53% | +0.92% | 10 of 15 | +3.40% (2022) | −3.62% (2015) | 2012–2026 |
| April | +1.23% | +0.88% | 11 of 15 | +5.93% (2013) | −3.30% (2016) | 2012–2026 |
| May | −0.29% | +0.86% | 8 of 15 | +3.15% (2015) | −6.86% (2012) | 2012–2026 |
| June | +0.23% | +1.32% | 11 of 15 | +5.96% (2023) | −15.43% (2016) | 2012–2026 |
| July | −0.57% | −0.44% | 5 of 15 | +4.22% (2020) | −5.05% (2024) | 2012–2026 |
| August | −0.47% | −0.50% | 5 of 15 | +1.90% (2020) | −3.86% (2015) | 2012–2026 |
| September | +0.44% | +0.14% | 8 of 15 | +6.42% (2017) | −3.63% (2020) | 2012–2026 |
| October | +1.34% | +1.13% | 10 of 15 | +6.22% (2022) | −2.63% (2018) | 2012–2026 |
| November (now) | +1.68% | +1.48% | 10 of 14 | +11.22% (2016) | −3.86% (2021) | 2012–2025 |
| December (next) | +0.43% | +0.95% | 10 of 15 | +6.51% (2012) | −4.47% (2022) | 2011–2025 |
Each month is the last 15 complete years of that month, from the Federal Reserve's daily exchange rates (H.10), month-end to month-end. The month in progress is not counted. History, not a forecast.
GBP/JPY in November, year by year
| November 2025 | +2.13% |
|---|---|
| November 2024 | −2.48% |
| November 2023 | +1.69% |
| November 2022 | −2.63% |
| November 2021 | −3.86% |
| November 2020 | +2.97% |
| November 2019 | +1.28% |
| November 2018 | +0.55% |
| November 2017 | +0.50% |
| November 2016 | +11.22% |
| November 2015 | −0.56% |
| November 2014 | +3.51% |
| November 2013 | +6.42% |
| November 2012 | +2.71% |
Questions
Is November bullish for GBP/JPY?
Over the last 14 years (2012 to 2025), GBP/JPY rose in November 10 times, with an average move of +1.68% and a median of +1.48%. That is a bullish lean; the range runs from −3.86% (2021) to +11.22% (2016). A seasonal tendency is history, not a forecast.
What is the best month for GBP/JPY?
Its best month on average is November (+1.68%, up in 10 of 14) and its worst is July (−0.57%, up in 5 of 15). Measured over the last 15 years of each month, from the Federal Reserve's daily exchange rates (H.10), month-end to month-end.
What happens to GBP/JPY in December?
December, the month ahead, has risen in 10 of 15 years, +0.43% on average (median +0.95%).
How reliable is GBP/JPY seasonality?
Fifteen years is fifteen observations per month, so one large year can move an average a long way; the median and the count of up years are steadier. Seasonality is one input among several, and is weighed as one in the terminal's composite score.
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Other seasonality: GBP/USD in Nov +0.56% · USD/JPY in Nov +1.13% · EUR/GBP in Nov −0.67% · EUR/JPY in Nov +0.96% · GBP/CHF in Nov +0.43% · GBP/AUD in Nov +0.59% · GBP/CAD in Nov +0.88% · GBP/NZD in Nov −0.40% · AUD/JPY in Nov +1.10% · NZD/JPY in Nov +2.12% · all 39
In WatchTower Terminal, the Seasonality panel draws the GBP/JPY path through the year over 5, 10 and 15 years against this year. Not financial advice.