GBPJPY chart by TradingView

GBP/JPY

The British Pound (GBP) against the Japanese Yen (JPY) pair denotes how many Yen are needed to purchase one Pound Sterling. GBP/JPY is a pair widely followed by scalpers and forex day traders. Day traders love the wide and volatile swings the pair tends to make on a day by day basis. There is enough liquidity in the pair for scalpers to quickly get into and out of trades. Additionally, forex technical analysis, such as support and resistance trading, tends to work well due to the amount of volume and forex transactions that takes place in the GBPJPY. This volume and liquidity carves technical patterns that shorter term traders closely follow. GBP/JPY is also a widely followed market for the medium term and longer term traders. Since the JPY is historically a low yielding currency, it is often used as a funding currency of a trade. Additionally, with the United Kingdom begin one of the larger economies in Europe, the Pound-Yen pair carry trade can be viewed as a proxy for worldwide economic health. On the other hand, when the markets experience severe risk aversion, this pair has been a proxy for market 'risk-off' moves as the carry trade gets reversed. As a result, GBPJPY has seen strong trends develop that can be in excess of thousands of pips. Due to the volume and liquidity available, retail sentiment can also be useful when trading those trends.


Support & Resistance

GBP/JPY
Brexit Overrides Fed Hikes, Elections and Risk Trends for Pound Pairs
S1142.89 W R3147.30 S
S2141.52 M R2146.04 M
S3140.61 S R1144.79 W
Trend
down
Volatility
3%

News


Brexit Overrides Fed Hikes, Elections and Risk Trends for Pound Pairs

The Pound posted its third largest single-day rally since the height of volatility back during the Great Financial Crisis. The catalyst for the move was uniquely UK-derived with Brexit driving speculators to move the currency higher.
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GBP/JPY Technical Analysis: Downtrend Still Firmly In Place


Loonie Rallies After BOC Holds Rates Steady


GBP/JPY Technical Analysis: Still Stuck in a Rut


Webinar: Live Event Coverage: UK CPI


Real Time News


Analyst Picks

James Stanley   

Currency Strategist

My Picks: Long GBP/JPY at Market
Expertise: price action + macro
Average Time Frame of Trades: few days - few weeks


Pivot Points

Forex Economic Calendar

A:  Actual   F:  Forecast     P:  Previous