The GBPJPY pair is the abbreviation of the British Pound and the Japanese Yen. The pair is also known as "the dragon". This pair is traded by risk-accommodating forex traders and investors. The ability of the GBP/JPY to fluctuate dramatically is one of its most recognisable attributes. Both the British pound and the Japanese yen are traded frequently and are among the top eight global currencies traded worldwide. The pair is seen as a barometer of global economic health as it relates economic events related to Europe's monetary policies with those of the Asia-Pacific region. The result of the United Kingdom's decision to leave the European Union via the Brexit referendum produced a severe downtrend of the GBPJPY. Another factor that impacts the pair is the relationship between the Japanese yen and energy pricing. Japan is heavily reliant upon the importation of crude oil and natural gas products as a means of satisfying domestic energy requirements. The pricing of energy commodities and the yen are intertwined and the adjustment in the value of the yen directly influences the GBP/JPY. Other factors that influence the volatility of the GBP/JPY are the political events, domestic monetary policies and both countries' economic output.