As trading ranges typically expand during the new year week, we expect USD/JPY to move lower from a technical perspective.
As UK needs to race for trade deal with EU in next 11 months, short GBP/USD upon any rally.
While no changes in rates tonight, Bank of England (BoE) may hint a possible easing in 2020 due to tepid inflation. GBP/USD could fall lower.
As the UK still has no trade deal with the EU post-Brexit, this is likely to improve risk appetite for GBP/USD only for a short period of time.
With a majority Parliament won, PM Johnson will be able to get his Brexit deal through Parliament without further delay and take Britain out of the European Union. GBP/JPY could retrace first before going higher.