I dont know if this goes in the rookie section or not, seemed like a rookie question to me.
I want to become an “expert” per say, in one currency, get to know everything about that currency, what moves it, what new effects it, what drives it, what times of year its likely to fall or rise etc, and only trade that pair. The pair ive chosen is the gbp/jpy. I really like this pair and its volatility. Makes very nice moves and has a large daily pip movement.
Ive done some searches on google in various ways to search for information but mostly ive found very outdated blog posts or other commentary, but nothing that really stays up to date in whats happening with the gbp/jpy.
Where can i find information on this pair? How would a veteran forex trader get their knowledge and where would they get it from? (besides just plain old experience and just observing the market for years) Are there any reliable sources out there that arent just opinions, but actually know whats going on with the pair and the national banks associated with them and what to look out for in the coming weeks/months and actually keep up to date with the pair?
Thanks for any information you can provide.
I really want to get in there and educate myself, im just finding it hard to find the information.
Not every trader will see the same pair the same way. Thus the very reason the market exists. You need to study the pair and learn on your own. No real way to skirt the issue on it.
I dont think it really matters if they see it differently.
Id like to analysis all of them.
Do you have and recommendations for reliable updated g/j commentary?
commentary wont get you far with gpy/jpy, you need to learn to profit from its price movements.
One specialist i have found to be successful can be found here: My GBPJPY trade journal @ Forex Factory
his intra-day strategy is that trending momentum = the highest probability risk/reward trade - which requires a certain amount of screen time at particular times in the day.
good luck
You need to differentiate between “currency” and “pair”. GBP is a currency. GBP/JPY is a pair. Sounds like you want to become expert in the pair, but in many ways that means becoming an expert in the individual currencies. You probably won’t find a lot of GBP/JPY specific commentary, but you certainly will find loads on the GBP and the JPY and/or the UK and Japan.