Correlation: Is it worth trading all four yen pairs?

Beginner Questions
1

Due to the effects of correlation I’ve lately been considering whether it was worthwhile keeping charts open for all ten currency pairs I trade. As EU, GU and UCHF almost always strongly correlate so do the four major yen pairs, it seems: GBP/JPY, EUR/JPY, USD/JPY and AUD/JPY.

Due to it’s higher spread I often don’t even bother trading GJ if the chart setups are the same on the other pairs. Is it even worth charting all four yens or ought one just find a favorite and stick with it? Is there ever much distinction between them…? What is your ‘favorite’?

		~ John (Merchantprince)

[I]“Nobody can be exactly like me. Even I have trouble doing it.”[/I]

2

This thread will maybe answer some questions,301 Moved Permanently

3

I just trade the USD pairs because I found most of the time the price action on other currency pairs is getting “forced” by their relationship to the USD