gbpjpy is a freakin interesting pair… even when trading 1 lot, this pair makes some serious moves.
does anyone like james, elang, forexninja, topgun have a profitable system for gbpjpy?
Hey,
I’ve been watching this pair since November. In general, it seems to like the double and triple zeros, i.e. 222.00, 230.00 etc. I love using simple stuff like whats presented in Barbara Rockefellers Technical Analysis for Dummies. I’ve also had great success reading the bloomberg site and looking for news of option volatilities with this pair, it has netted me 300+ pips every time I go in the direction of the volatilities. Candlestick ids have netted me 50 pips with the GBP/CHF in a quieter market this week.
If you get a system down with these two pairs, you should make a killing.
VanessaFX has a system in place for GBP/JPY. I tried it and its WAY scary. 150 pip stop loss on the system and my broker has a 9 pip spread.
I was down 80 pips at one point and it turned over and I got out with a 40 pip profit out of it. 36 hours later.