Gbp jpy trading strategies

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Gbp jpy trading strategiesTrading in the GBP/JPY

Among the lesser known but most interesting currency pairs to trade on the Forex, the GBP/JPY is still little used by many traders. And yet, this pair offers a number of advantages for expert and novice traders.

What is the GBP/JPY?

The GBP/JPY is the Pound Sterling/Yen currency pair which expresses the exchange rate between the British Pound Sterling and the Yen, the official currency of Japan. Its rate therefore expresses the value of a British Pound in Yen.

This currency pair is quoted with 2 decimal places, sometimes 3 with certain brokers. Its rate is said to be ‘floating as it relates to the difference between supply and demand.

The impact of the central banks:

As with the majority of currency pairs, the GBP/JPY is strongly influenced by the central banks of the two countries that intercede regularly on the Forex.

Concerning the British pound, it is of course the Bank of England that is responsible for its regulation whereas for the Yen it is the Bank of Japan that is responsible.

We should note here that the Bank of Japan, like many other similar institutions, tends to intercede quite frequently on the foreign exchange market in order to control the rise of its currency and thereby protect its country from a feeble export competitiveness.

The importance of the GBP/JPY currency pair and its historical variations:

This pair however does not represent one of the highest volumes exchanged on the Forex, in fact it represents only 1% of the foreign exchange market transactions.

But what attracts knowledgeable investors to this currency pair is the strong volatility it offers. In fact, over the last few years we have seen a volatility close to 300 pips which is remarkable for a currency pair. It is for this reason that many investors use the GBP/JPY pair to speculate over the short term. This currency pair is therefore ideal for day traders .

We can explain the size of the movements observed with the GBP/JPY by the effects of the announcements that are generally numerous and throughout the day as the information relative to the pound sterling appears in the morning and part of the day whereas news from the Japanese front appears generally at night due to the time zone difference. There is therefore always an opportunity to be seized.