I everyone ! I’m new in baby pips and in fact this is my first post…
I noticed when browsing the forum… Not many trade the POUND YEN pair… May I know y?
Thanx and may the pips be with u!
I personally don’t trade it as I’m based in the UK and most of the action happens 1am GMT onwards. As well as this, I find this pair quite erratic and hard to grind down, but this could just be me. Other pairs like GBP/USD or EUR/CHF work better for me and my trading style
I am in the UK and GBP/JPY is one of the pairs I like to trade. I find that while it does not give clean, consistent trends too often, it does respect horizontal S&R levels quite nicely, so does give decent trading opportunities. Both GBP and JPY are key trading currencies, so I would never overlook their pair!
ST
If you’re trading it Britewater keep in mind that it’s movements are basically a result of vibrations across GBP/USD and USD/JPY so you’ll want to have an eye towards factors which could influence both of those pairs. It’s not the most liquid of pairs so the higher spread can put some people off trading it and the thinner orders on the books can make it twitchier than many other pairs out there. Though nearly every pair is volatile at the moment so it’s maybe no trickier than others to trade right now!
It is my favourite pair, i trade it in 1hr with trend channels.
Regards