Trading GBP/JPY
The GBP/JPY or ‘Geppy’, as it is sometimes pronounced, is a forex currency pair consisting of the Great British Pound and the Japanese Yen. Other common slang names include the ‘dragon’ and the ‘beast’, so-called for its infamous volatility. Trading this pair can have serious upside for experienced investors, but historical data shows that dramatic shifts in the exchange rate are common. In this article, we’ll discuss exactly what it means to trade GBP/JPY, including strategy tips. We’ll also dive into the history of the pair, its fundamentals, characteristics and what impacts its price.
GBP/JPY Trading Brokers
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Trade 48 currency pairs with low spreads from 0.1 pips and leverage up to 1:30 (EU) and 1:500 (Global). Micro lot trading is also available and new currency traders can make near-instant deposits with no fees.
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FXCC offers leading fees compared to alternatives with spreads as low as 0.0 pips and $0 commission. Over 70 currency pairs are also available, providing more opportunities than most competitors.
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Pepperstone offers ultra-low spreads from 0.0 pips on the Razor account and has an excellent selection of 60+ pairs. You can also trade currency indices, which aren't available at many alternatives. Forex lots start at 0.01.
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Trade 85 major, minor and exotic forex pairs via CFDs on IB's FXTrader platform with tight spreads and low commissions, or trade forex on the spot market. They offer more FX assets than almost any competitor.
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XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Forex can be traded 24/5 on desktop, web and mobile. Over 50 currency pairs are available including all majors.
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Trade 50+ major, minor and exotic pairs with an award winning platform. Users get institutional-level prices with spreads from 0.0 pips and low commissions. The VPS will also serve high-volume, active day traders.
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OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.
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IG offers currency trading on its award-winning web platform and mobile app. Comprehensive charts and forex analysis tools are also available through ProRealTime.
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Trade 70+ currency pairs with ultra-fast execution speeds and tight spreads from 0.46 pips on EUR/USD. The range of forex assets outranks many rivals.
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Plus500 offers forex trading via CFDs with tight, floating spreads and an excellent suite of 60+ currency pairs. We got spreads of 0.6 pips on the EUR/USD during testing - lower than many alternatives.
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Markets.com offers major, minor and exotic currency pairs available to trade as contracts for difference (CFDs) or spread betting (UK customers only). Spreads are competitive starting from 0.6 pips on the EUR/USD.
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NinjaTrader supports the trading of popular currencies including the EUR/USD. The trading software also offers unique features tailored to forex trading, including specific order and market windows.
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Axi offers a great selection of 70+ major, minor and exotic currency pairs. There are no restrictions on trading strategies and the broker boasts impressive spreads by connecting to 20 liquidity sources.
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Trade 170+ major, minor and exotic forex pairs with floating spreads and leverage up to 1:30. Forex futures are also available on some currency pairs. However the forex broker has a track record of amending margin requirements without appropriate notice.
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Trade 35 major, minor and exotic forex pairs through CFDs with floating spreads from 0.1 pips. Alternatively, binary options allow you to speculate on rising and falling prices with a fixed stake and payout.
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Focus Option offers 22 forex pairs tradeable via binary options, including a selection of majors and minors. FX pairs are also available to trade with margin on Focus Option's mobile app, which offers high leverage up to 1:50 and spreads from 1 pip.
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Global Prime traders can access 48 forex pairs including majors, minors and exotics with tight spreads from 0.9 with no commission or from 0 with a $7 round turn. Forex is traded via the leading MT4 platform, micro lots are available and latency is low via a New York-based server.
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Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
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Trade currencies with 0.0 pip spreads at one of the world's leading forex brokers. IC Markets is a great choice for serious traders with superior execution and low fees.
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AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
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Forex.com is a leading FX broker. The brand offers a wide range of currency pairs and some of the lowest fees in the industry. Spreads on the EUR/USD come in as low as 0.0 with a $7 commission per $100k.
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Go long or short on 50 forex pairs including the EUR/USD and GBP/USD with zero commissions. There are plenty of opportunities to buy and sell currencies via margin or copy trading.
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An impressive selection of 52 currencies are tradeable on eToro's proprietary platform and app. Traders can also continuously hone their forex strategies by switching between demo mode and their live account any time.
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OspreyFX offers more than 50 major, minor and exotic currency pairs. Spreads start from just 0.1 pips on the EUR/USD and the broker provides a suite of forex trading education for beginners, including partnering with Forex Squad.
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CloseOption offers binaries on 25+ forex pairs, including majors like EUR/USD and a few minors like AUD/JPY. Payouts vary by currency, with decent typical payouts of 75% for GBP/USD.
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Trade 70+ major, minor and exotic forex pair CFDs with up to 1:1000 leverage, no commission fees and competitive spreads from 0.8 pips. FX trades can also be executed via the reliable and fast MetaTrader 5 software.
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Errante traders can access 50+ forex pairs with leverage up to 1:500 (location dependant). The broker offers fast execution and tight spreads, especially to clients with VIP and Tailor-Made accounts.
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Kwakol Markets offers a wider range of forex pairs than most competitors, with 90+ assets available. Users get fast execution speeds through the ECN model and competitive spreads. On the negative side, not all currency pairs are available on MT4.
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Trade 70 major, minor and exotic forex pairs with ultra-low ECN spreads and fast execution via the MT4 or MT5 platforms. There are also zero SL/TP limits and automated forex trading is well catered for.
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Ingot Brokers offers forex trading on a modest suite of 30+ currency pairs with spreads starting from zero on raw spread account types. Currencies can be traded 24/5 though exotics are only available on MT5.
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Trade a small selection of 25 major and minor pairs. Spreads from zero on the pro account, micro-lot trading, and very high leverage make up for the limited range of currencies. The MetaTrader software is also a well-regarded platform for forex trading.
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Axofa offers 50+ forex pairs with raw spreads and low commissions. On the downside, the broker is not particularly transparent when it comes to their account conditions and fees.
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Go long or short on over 50 currency pairs with spreads from 0.6 pips on EUR/USD. Traders can access market-leading forex tools in the MT4 platform, including customisable forex charts and algorithmic trading.
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Trade binary options on 25+ forex pairs including a range of majors and minors, as well as precious metals paired with USD. Payouts top 80% and users can analyze market movements on the hugely popular MT4 platform and app.
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World Forex offers CFD and digital contract trading on 53 forex pairs, including EUR/USD and GBP/EUR. High leverage is available for CFDs, which can be accessed with competitive spreads on certain account types.
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FinPros offers 80+ forex pairs, which is one of the more diverse offerings available. Traders benefit from ultra-low latency, MT5 support and very tight spreads and low commissions on the RAW+ account.
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Trade 45+ major, minor and exotic pairs with deep liquidity and low latency. The ultra-tight spreads from 0.01 pips on raw accounts, competitive $7 or lower round-turn commissions and high leverage up to 1:500 will suit scalpers, who can trade without limits.
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IQCent traders can access CFDs or binary options on 40+ forex pairs, including majors, minors and exotics. CFD spreads start from 0.7 pips and binary options payouts are decent up to 95%. Trading takes place through the broker's proprietary platform with advanced analysis tools.
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Trade 50+ forex pairs including popular majors and minors with very high leverage available up to 1:1000. Gold, silver, palladium and platinum pairs with USD are also available.
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Trade 25+ major and minor currency pairs with access to over 30 technical indicators in the broker's proprietary terminal. You can also follow and replicate other forex trades using the integrated copy trader.
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Scope Markets offers MT5 trading for a range of major, minor and exotic currency pairs with high leverage and a low starting deposit. Multilingual 24/5 support is also available to support forex traders.
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Trade 50+ forex pairs, including popular major, minor and exotic pairs. This is a decent selection, but traders will have a choice between the attractive MT4, MT5 or IRESS platforms and regulatory cover from ASIC. The VPS will also suit automated forex trading strategis.
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Trade 49 major, minor and exotic currency pairs with fixed spreads or ECN pricing with no dealing desk intervention and a low starting deposit. You can analyze the currency markets using the broker's in-house trading platform.
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Anzo Capital offers 45+ forex pairs including majors, minors and exotics with fast execution and spreads starting from zero. High leverage up to 1:1000 is available with a margin call at 80% and a stop out level at 50%.
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Rock Global clients can access 50+ currency pairs via CFDs with leverage up to 1:500, world class liquidity and fast execution on the MT4 or TWS platforms. The tight spreads from 0.9 with no commission are a particularly attractive feature.
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VT Markets offers 40+ forex pairs including majors, minors and exotics with lightning-fast execution, up to 1:500 leverage and spreads starting from 0 available to ECN account holders.
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Binary and OTC options can be purchased on over 40 foreign exchange pairs. Typical payouts are also decent at 81% and users can trade forex binary options in just a couple of clicks.
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Exinity offers 150+ forex pairs to trade on a very competitive ECN pricing model, with spreads from zero and low commissions of $4 per round turn. Traders can access the powerful MT4 and MT5 platforms and trade with no restrictions on popular day trading strategies.
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ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs on the leading MT4 and MT5 platforms. Spreads are tight starting from zero and there are no dealers or requotes.
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PU Prime clients can trade 40+ forex pairs via the MT4 and MT5 platforms with dynamic leverage up to 1:500. Spreads start from near zero on Prime accounts, which also charge a $7 commission per lot, and a zero-commission Standard account with wider spreads is also available.
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With 100+ currency pairs including all majors plus many minors and exotics tradeable on the MT4 platform with 1:2000 leverage, SuperForex lives up to its name as a great choice for forex traders. The ForexCopy system is also useful for newer traders.
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AdroFX has a good forex offering of more than 60 pairs, which can be traded with up to 1:500 leverage via the MT4 platform or copy-traded with Allpips. The broker also offers very tight spreads starting from 0.4 pips and charges no commission.
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Start trading on dozens of currencies at RoboMarkets with powerful analysis tools and pattern recognition technology. 35+ currency pairs are available with tight spreads from 0 pips and rapid market execution. You can also utilise the broker's forex news alerts and economic calendar.
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Trade 7 major, 21 minor and 29 exotic forex pairs with high leverage and a choice between STP or ECN accounts. Support is available around the clock and the TradeLocker forex software is provided.
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Core Spreads offers trading on 34 forex pairs through spread betting and 40 currencies through CFDs, with both vehicles covering major and minor pairs. Spread betting spreads start from 0.6 for EUR/GBP; CFD spreads are variable and start from 1.2 pips on EUR/GBP.
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Buy and sell over 50 currencies with zero pip spreads available via deep liquidity pools. M4Markets offers very low latency with execution speeds averaging 30ms. There are no restrictions on forex trading strategies.
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MultiBank FX offers trading on 50+ major, minor and exotic currency pairs. Spreads are tighter than many competitors and the broker offers higher leverage than most alternatives. Automated trading strategies are also permitted.
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Trade Nation offers over 30 of the most popular forex pairs with variable spreads. Traders can access a slick proprietary platform or MetaTrader 4, with real-time forex market updates and insights via 'Smart News'.
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As well as a competitive selection of 55+ forex pairs, traders can access high leverage up to 1:300. You can also enjoy advanced analysis from Trading Central with easy integration into MetaTrader 4.
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Traders can access a decent range of 60+ major, minor and exotic forex pairs through standard and ECN accounts with tight spreads from 0.5 and 0.0, respectively. Execution speeds are also faster than most competitors at 50ms, which will appeal to active forex day traders.
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4xCube offers 60+ currency pairs with competitive trading conditions. We like that all trading strategies are permitted including scalping and hedging.
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ActivTrades is a great broker for active forex traders with industry-low spreads from 0.5 pips and zero commissions. The forex broker also offers impressive execution quality and speeds, alongside award-winning customer service.
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BlackBull offers 64 forex pairs with very competitive pricing through its ECN accounts, with the standard commission-free spread starting from 0.8 and spreads with commission starting from zero. The broker supports diverse trading platforms including MT4 and MT5, and provides leverage up to 1:500.
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LQDFX offers an extensive list of 70+ currency pairs, more than most alternatives. Spreads are ultra-low and high leverage is available on the market-leading MT4 platform.
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Trade over 30 currency pairs with tight spreads from 0 pips. Forex traders have a choice of leading platforms including MT4, MT5 and an in-house web trader. The CopyFX system also lets you mirror experienced currency traders with a $100 minimum investment.
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Swissquote offers trading on a huge range of forex assets, covering 80+ currency pairs. Spreads start from 1.3 pips with the Premium account and there are zero commissions. Micro, mini and standard lot sizes are available plus options contracts on major currencies.
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SimpleFX offers a competitive suite of 60 forex pairs with average spreads of 0.9 pips. The charting features are extensive, with convenient mobile and desktop access for all experience levels.
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Go long or short on over 50 forex pairs from majors to exotics, with spreads as low as 0.1 pips. Traders can analyze the currency markets with market-leading trading software and charts from MetaTrader 4.
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During my tests, I was able to access a very competitive range of 90+ forex pairs with ECN spreads from 0.0 pips and leverage up to 1:500. FX traders can also make use of the Trading Central signals or the broker's daily forex analysis.
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Trade on 45+ majors, minors, crosses and exotics, with competitive pricing, ultra-fast execution and no requotes. Newer traders can access zero-commission trading. Experienced forex traders can operate with no trading restrictions and benefit from an ECN account and a VPS service.
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FXTrading clients can access 70+ forex pairs with high leverage up to 1:500, fast execution averaging 80ms, excellent liquidity and spreads from zero. A good selection of minors and exotics are available as well as all the majors. New users can start trading forex in 4 easy steps.
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Trade 36 forex pairs, including the EUR/USD with spreads from zero pips. FXChoice offers higher leverage on forex than most competitors, alongside 24/5 support and an accessible $10 starting deposit.
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With over 190 forex spot pairs, EZ Invest outperforms many rivals in terms of access to the currency markets. Users can also choose between desktop software, a webtrader plus a solid mobile app. On the negative side, spreads aren't the tightest on entry accounts.
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Fortrade offers 60+ currency pairs including a good selection of majors, minors and exotics. Trading takes place via MT4 or Fortrade's proprietary, low-latency terminal, and spreads on the USD/GBP pair average a reasonable 2 pips.
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FP Markets is a good option for forex traders, with 70+ pairs covering an excellent range of currencies. Spreads are already tight on standard accounts and start from zero on raw spread accounts, and the broker offers high leverage up to 1:500 and top-tier liquidity.
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IronFX offers 80 currency pairs with an excellent selection of minors and exotics as well as majors. Trading takes place on the MT4 or a proprietary platform with spreads from zero available to ECN accounts. IronFX offers more currency assets than virtually all competitors.
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Trade 80+ major, minor and exotic forex pairs. This is a very competitive range of currency pairs with 50+ exotics to choose from, and traders will benefit from fast execution and support from extra features including a pip calculator. The MetaTrader 4 software was also designed for online forex trading.
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Libertex offers CFD trading on 50+ forex pairs, offering long and short opportunities. Its strength comes in its tight spreads – we were offered 0.2 pips for EUR/USD.
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Trade up to 33 major and minor forex pairs. This is a small range of currency pairs compared to competitors, with no exotics, but traders do benefit from tight spreads, low or no commissions and low latency.
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HYCM offers 40+ forex pairs, with most available to trade on either the MT4 or MT5 platform. The maximum leverage on offer is 1:30 in accordance with regulations, and tight spreads start from 0.2 on the Raw account and from 1.2 on the commission-free Classic account.
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FXOpen clients can trade 50+ forex pairs (28 on micro accounts) with leverage up to 1:30. Fees are competitive with spreads starting from zero with a small commission on ECN accounts, and slightly wider spreads and no commission on STP accounts.
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Trade 45 major, minor and exotic forex pairs. This is an average range, but the broker offers attractive and very competitive tight floating spreads from 0.3. Useful features including a news feed set the broker apart from many rivals and can help plan forex strategies.
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With 300+ forex pairs, Hantec Markets has one of the widest selections on the market. Floating spreads start from 0.2 pips with ultra-fast market execution and access to the leading MT4 platform.
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With 60+ currency pairs available, Dukascopy offers enough majors, minors and exotics to keep most forex traders happy. The broker also offers high leverage up to 1:100 – a good amount to see from a reputable and regulated broker. Currency traders have access to excellent software, including MT4 and JForex.
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Speculate on popular currency pairs with flexible leverage up to 1:500 and zero-pip spreads in the GO Plus account. Commission-free trading is available with micro, mini and standard forex contract sizes.
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With around 190 forex pairs and spot metals, 140 forwards, top-tier liquidity, fast execution and spreads from near zero, Saxo Bank offers exceptional flexibility and value to forex traders. Advanced charting from TradingView is another plus for active forex traders.
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Trade on 60+ forex pairs with no commission and competitively tight spreads from 0.6 on major pairs such as EUR/USD. This is a good selection of forex pairs and excellent pricing for commission-free trading, well below the industry average.
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Trade a wide selection of 80+ currency pairs with spreads from 0.5 pips and industry-favorite platforms. City Index has 40+ years experience in forex trading with liquidity from tier-one banks.
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ThinkMarkets offers 46 forex pairs, including a decent variety of minors and exotics as well the majors. Forex traders also benefit from very tight spreads starting from 0.0 pips for the EUR/USD in the Zero account.
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CMC Markets offers a superb list of 330+ forex pairs with tight spreads and ultra-fast executions. The selection of currencies is significantly wider than rivals.
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FXTM offers 60+ forex pairs plus 6 indices which track a basket of popular currencies. The brand's ECN accounts offers impressive spreads from 0 with low commissions from $0.40 to $2 per lot and commission-free spreads start from 1.5 pips.
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Trade FX pairs with tight spreads & leverage.
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Trade 60+ forex pairs including majors, minors and a selection of exotics and crosspairs with fixed spreads from 1.8 pips or variable spreads from 0.8. FX traders also get advanced trading software in MetaTrader.
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Trade over 90 pairs and keep costs to a minimum, with tight spreads and industry-leading commissions. Currencies can be traded 24/5 with no dealing desk intervention.
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Trade 24 forex pairs via binary options. Such a small range of currency pairs is not that unusual among binary options brokers, and BinaryCent's high payouts up to 95% compensate for the lack of range.
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Access over 40 currency pairs with no commissions and low spreads from 0.78 pips for EUR/USD. Forex can also be traded 24/5 on a choice of reliable platforms.
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Go long or short on a range of major and minor currency pairs with tight spreads. Powerful trading software is available with a choice of instant and pending orders.
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Trade 200 CFD forex pairs with DMA pricing and tight spreads, ultra low latency and high leverage up to 1:1000. The range of forex pairs available and pricing model are among the most attractive in the African market.
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Capital.com offer a long list of forex CFD pairs for trading. All have competitive spreads. The firm also ensures negative balance protection
GBP/JPY Explained
GBP/JPY is forex trading terminology for the value of the Great British Pound against the Japanese Yen. It is displayed as a single number. For example, if the GBP/JPY is 144, this means 1 Pound would buy 114 Yen.
The GBP is the fourth most traded currency in the world, behind the JPY in third place. Therefore, this cross pair is one of the most liquid in the forex trading world. However, it is also one of the most volatile. The Geppy trading graph is known to move dramatically, turning huge upside into loss in a short time span. The average daily range between 2014-2020 was 146 pips, compared to just 96 for the EUR/JPY.
GBP/JPY History
Any experienced forex trader knows that exchange rates are heavily influenced by world news. Keeping a keen eye on Bloomberg, Google and Yahoo Finance for political and economic changes is common. This is known as fundamental analysis. Beyond the price chart, an understanding of the history of the GBP/JPY will aid future price analysis.
The Lost Decade
The period between 1991 and 2001 is sometimes known as the Lost Decade in Japan’s economic history. The Japanese economy was stagnant in this era, with GDP growing around 1%. Other developed economies grew much more at this time. The Bank of Japan began quantitive easing in order to prevent deflation. Discussion continued into whether the Lost Decade would extend into 2021 as numerous disasters, including the 2011 Tōhoku earthquake and tsunami, plus the Covid-19 pandemic, continued to batter the JPY.
2008 Financial Crisis
In the 2008 Global Financial Crisis, the GBP/JPY showed excessive volatility beyond that seen by other currency pairs. While the EUR/USD value moved around 3,300 pips, the Dragon lost a staggering 7,000 pips at one point. The outlook was bleak for those who stopped out. But for those with the right strategy, there were profits too.
The Brexit Era
Global trade of GBP has been rocked by the vote to leave the EU. Uncertainty surrounding the British economy has reduced the desire to trade Sterling. Whilst volatility around the result in June 2016 bought profits for some, for others, Brexit meant a move away from the EU market, and therefore, less security.
To continue with up-to-date fundamental analysis on the GBY/JPY, keep an eye on economic calendars along with trading blogs and forum commentary.
GBP/JPY Trading Strategy
The best trading strategies take into account more than just news. Technical analysis involves looking at historical prices to predict the profitability of a buy or sell position in the future. UK traders use charts, indicators and signals to help identify trends. Each of the following trading strategies will involve identifying patterns in the data when trading GBP vs JPY.
Breakout Strategy
GBP/JPY is known for its extreme volatility, so many traders use the breakout trading strategy to profit from this. A breakout strategy involves monitoring market data for a break in the price level. Once a breakout is made, the expectation is the price will continue to trend in that direction. Traders who correctly forecast a trend early using the breakout method will make a profit. But, it’s important to utilise a stop loss as investing incorrectly could bring unwanted downside.
Day Trading
Day trading the GBP/JPY means never holding a position overnight. Margin and roll-over fees are charged by brokers when you hold a position outside of trading hours. Day traders typically avoid these fees by closing trades within a short time span – sometimes minutes. The best time to trade GBP/JPY is between 8am and 9am GMT when both markets are open. This is when the pair is most liquid which means tighter spreads and better prices.
Elliott Wave Theory
Technical forecast analysis based on Elliott Wave theory is popular among forex traders. Ralph Elliot developed the theory in the 1930s after an amazing prediction of a stock market bottom. Elliott describes how patterns in the data form ‘waves’ which indicate which way a market, such as the GBP/JPY, is likely to move next. Indicators and trading signals based on the Elliott Wave Theory are available for download onto your MetaTrader platform when trading the GBP/JPY.
Scalping
Scalping the GBP/JPY is a high-risk game because of the Geppy’s stark price movements. However, the strategy is also popular because of the potential reward. Scalping involves making short sharp trades that are held for a limited time period, sometimes just a few seconds, to accumulate profits. Numerous small profits add up to impressive sums if they are frequent enough. Successful scalping traders will be extremely disciplined to ensure that most trades are profitable since frequent losses can add up. Close monitoring of realtime live forex charts is vital.
Price Action
Another technical analysis strategy for trading the GBP/JPY is price action. This system involves looking at the pairs price movements on candlestick charts and setting personal thresholds which trigger actions. Traders using price action look for support and resistance lines. For example, if the current price reaches the target of 165, the trader believes it has entered a bullish phase and will continue to rise. Therefore, they will make the personal decision to go long. However, another trader might believe that a fall in value will follow. In this case, the prediction is a bearish phase and they will go short. Identifying daily pivot points helps traders build a price action strategy. Theories should be tested before executing on live trades.
Other popular strategies including utilising a difference in interest rates to perform a carry trade. The Yen tends to be a low yield currency while Sterling is high yield, making it suitable for holding positions overnight. Those with less time for analysis can utilise an Expert Advisor, i.e an automated trading robot to execute trades.
Correlations
Traders looking to understand how to trade GBP/JPY successfully need to understand correlations. Since currencies are traded in pairs and some economies are closely tied, currency pairs can move in the same direction over long periods of time. For example, in the pre-Brexit era, Sterling and the Euro might have been closely correlated as the two economies were closely tied.
The Yen tends to be negatively correlated with gold prices. Gold is seen as a safe investment in times of economic turmoil. Conversely, Yen is seen as a currency safe haven. Traders moving out of gold can sometimes move into Yen.
Correlations can change over time. Therefore it’s important to test your GBP/JPY correlation assumptions by looking at historical data. Using a forex correlation calculator can help with this.
Final Word On GBP/JPY
The key to trading the GBP/JPY is to understand the nature of the beast. Its volatility and liquidity makes it a popular pair to trade spot forex, ETFs, futures and options with. But its inherent risks should also be recognised. Keep a close eye on the Yen exchange rate forecast and daily outlook for trends that might lead to upside.
Find out more about forex trading.
FAQ
What Does It Mean To Trade GBP/JPY?
The term GBP/JPY refers to the currency pair of the Great British Pound and Japanese Yen. It is also sometimes referred to as the Geppy, Dragon or the Beast. It is displayed as a single number (e.g 144). This means that 1 GBP will buy you 144 JPY.
What Is The Best Strategy For Trading GBP/JPY?
There are many strategies for trading GBP JPY. Profitability depends on the trader’s ability to detect trends. One of the most popular is the breakout strategy. This involves analysing price charts for breakout trends. Other strategies include day trading, scalping and copying free GBP/JPY signals.
What Is The Current Price Of GBP/JPY?
The exact price of the GBP/JPY varies from minute to minute. This allows traders to make a profit between the buy and sell price. The current price can be found by looking at price and bar charts from financial news organisations such as Bloomberg, Google and Yahoo Finance.
Is The GBP/JPY Volatile?
Yes, the GBP/JPY is known to be a volatile currency pair. The daily average price movement is much larger than other majors such as EUR /JPY. This can bring upside as well as downside for traders. Stop losses are important for those choosing to invest.
What Influences The GBP/JPY?
There are many factors that influence the pip value of the GBP/JPY. Important factors include the state of the British and Japanese economies, interest rates, employment rates and national bank policy.