Yesterday, Greg Michalowski of ForexLive.com seemed on the GBPJPY
GBP/JPY
The GBP/JPY is the currency pair encompassing the British pound of the United Kingdom (symbol £, code GBP), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one British pound. For example, when the GBP/JPY is trading at 165.00, it means 1 British pound is equivalent to 165 Japanese yen. The British pound (GBP) is the world’s fourth most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting in a very liquid and popular currency pair. GBP/JPY Prized for its Versatility Among TradersThe GBP/JPY often stays within the 1 pip to 4 pip spread range on most forex brokers. This coupled with its consistently high range and volatility makes it a great candidate for both medium term and long-term trading, although it is also very popular with scalpers. The GBP/JPY is one of the most widely traded forex pairs. A lot of traders actually prefer it to the major pairs, because of the potential it provides. It’s popular with both technical and fundamental traders. The pair’s range easily surpasses a hundred pips on most days.Seasoned news traders also love this pair, since it reacts more vigorously to economic reports and news releases compared with most of the other pairs which possess similar spreads.However, high spreads and whipsaws can be a problem during the really high impact releases.When it comes to technical trading on the GBP/JPY, the classical tried and trusted technical analysis tools and patterns are still the number one weapon of choice. Despite the almost exponential increase in the number of indicators and scripts available in recent years, perhaps with a few exceptions, they simply don’t provide the consistent level of insight a trader needs.Additionally, trading the GBP/JPY gives you exposure to some of the most important economies in the world. Designated as a safe haven currency by investors, the JPY garners popularity in times of volatility or turmoil.By extension, the GBP has remained a paramount currency, despite the recent fallout wrought by Brexit negotiations with the European Union. As such, the currency pair has been highly subject to these discussions, with no resolution presently in sight.
The GBP/JPY is the currency pair encompassing the British pound of the United Kingdom (symbol £, code GBP), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one British pound. For example, when the GBP/JPY is trading at 165.00, it means 1 British pound is equivalent to 165 Japanese yen. The British pound (GBP) is the world’s fourth most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting in a very liquid and popular currency pair. GBP/JPY Prized for its Versatility Among TradersThe GBP/JPY often stays within the 1 pip to 4 pip spread range on most forex brokers. This coupled with its consistently high range and volatility makes it a great candidate for both medium term and long-term trading, although it is also very popular with scalpers. The GBP/JPY is one of the most widely traded forex pairs. A lot of traders actually prefer it to the major pairs, because of the potential it provides. It’s popular with both technical and fundamental traders. The pair’s range easily surpasses a hundred pips on most days.Seasoned news traders also love this pair, since it reacts more vigorously to economic reports and news releases compared with most of the other pairs which possess similar spreads.However, high spreads and whipsaws can be a problem during the really high impact releases.When it comes to technical trading on the GBP/JPY, the classical tried and trusted technical analysis tools and patterns are still the number one weapon of choice. Despite the almost exponential increase in the number of indicators and scripts available in recent years, perhaps with a few exceptions, they simply don’t provide the consistent level of insight a trader needs.Additionally, trading the GBP/JPY gives you exposure to some of the most important economies in the world. Designated as a safe haven currency by investors, the JPY garners popularity in times of volatility or turmoil.By extension, the GBP has remained a paramount currency, despite the recent fallout wrought by Brexit negotiations with the European Union. As such, the currency pair has been highly subject to these discussions, with no resolution presently in sight.
Read this Term. The hourly chart confirmed 6 separate assessments of the 200 hour MA and help consumers leaning.
With 6 separate assessments, merchants who’re searching for extra draw back within the pair, can anticipate a break beneath with momentum. Moreover, danger could possibly be outlined and restricted on the break.
There was certainly a break of the 200 hour MA within the buying and selling day right now, however the momentum stalled a short while later. If the commerce was accomplished, the merchants may need been stopped out on the failure.
However, that doesn’t cancel the 200 hour MA as a danger and bias defining degree. True to that concept, the subsequent break didn’t rebound again above the MA however as an alternative moved right down to the subsequent key goal.
The lesson is typically trades work out completely. Other occasions, a small loss is the consequence. However, do not hand over on the nice concepts which might be effectively supported technically. The very subsequent commerce would be the huge winner.
Here is the video from yesterday:
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