I was looking at the GBP/JPY monthly chart and I noticed a hammer that was formed on the bottom. If that is true it means that we can buy the pound against the yen?
If you saw a hammer on the 1m chart that could be a small correlation but candlestick patterns on the 1m chart tend to be fake outs. Patterns seen on the larger timeframes are more safe.
oops. I wanted to say on the monthly chart:D