EUR/USD/JPY crosses

GBP/JPY: Can be one of the noisiest currency pairs

I remember being part of a pilot program back in Frankfurt in the late 80’s when a group of us tried to create an interbank market in GBP/JPY. I believe that we all lost money doing this period, which shouldn’t be the case in a zero-sum game, but it does go to show how difficult this pair is to trade on an intraday basis.

It’s safe to say that not much has happened today in Asia yet GBP/JPY fell by 70 pips and then rallied by 100. EUR/USD has had a 17 pip range during the same period so it just goes to show how much this pair can move when nothing is going on.

  1. Yeah Vlad, I hear a load of people say that there is no movement in Asia, and sometimes that is true; but if you are in “asian” pairs you can get some good movements before bedtime! Problem I have, I that I have a sixth sense of when something is going to move and I open a position the wrong way and then have to sit through the Asia open with a EURSEK position!! (or similar)

  2. I see the GBP going down… ( GBPUSD )
    And also Yen is weakening… However, at this very moment JPY is oversold agaimst most currenvies, (trades 90.800) and see a small pullback in progress..
    I think the pair GBPJPY is a short, to try with some pennies only, and to keep perhaps till Friday or a sustantial downward, and then close……

  3. Problem with Cable is that I think the easy money has been made; its probably going to be a bit choppy from here before anoth leg lower, and with the upward pressure from EURJPY and USDJPY its probably going to make GBPJPY pretty choppy too. I wouldn’t be chasing lower at these levels.

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