EURJPY vs. GBJPY

Trading Discussion
1

Hi guys,

I’ve recently been wondering about the EURJPY and the GBPJPY and although they are both correlated, they still have their own, unique character and structure.

I have no real reason to choose between the two either way when presented with a setup, but it seems that GBPJPY might have a longer “legs” when it comes to pip hauls :wink:

Again, this is based on nothing measured or even semi-remotely resembling any facts, but let’s hear what has been good to you!

Voting at the top :slight_smile:
Cheerz

2

Neither EURJPY nor GBJPY is my trading currency pair.

3

I just trade the charts in front of me so with correlated pairs i just trade the one with the best setup. I know that sounds simple but thats because it is!!

4

Still, thanks for the feedback :slight_smile:

5

Yeah man, that makes a lot of sense, thanks for sharing!

6

it’s similar with james for me.

I have traded gbpjpy years ago, but now prefer to trade eurusd and (on topic) eur cross specifically eurjpy.

7

Which leads me to my one point, the different pairs certainly have different characteristics. Thanks for your reply, FringFX!

8

I found this on a currency forecast website (I’ll try post a link).
It says the average daily ranges for the two pairs in the year 2010 was:
GBPJPY 256 pips
EURJPY 196 pips

Here’s the site:
Currency Forecasts

Remember that’s just one year, and it was 2010. there you go, use it, don’t use it, up to you…

9

I think that GBPJPY is comparatively a tricky currency pair to handle and we may require larger stops to trade it.On the other hand,EURJPY is quite predictable,requires small stops(as compared to GBPJPY) and is very trending.EURJPY is one my favorite currency pair.

10

I trade both, but find that EUR/JPY moves more predictably, more progressively. I generally need a wider Stop with GBP/JPY as I find it tends to catch me out more with spikes, while EUR/JPY tends to give me a cleaner trend. So while I like trading both, if I could pick only one I’d take EUR/JPY.

11

That’s funny because the only trade I ever took with GBP/JPY resulted in a spike which took me out.
I guess that’s why I left it alone since.