any GBP/JPY traders out there?!

Hey Folks,

I've gotten tired of the typical overreaction of the main currencies to news announcements and have moved to the GBP/JPY. Though I'm mainly just learning it's characteristics now, I'd love some input. It seems to be volatile but not "spikey".

As a short term trader I'm using mainly the 30m chart with standard stoch and RSI at 5 which gets a little noisy, but responds well. I trade only from 12AM EDT-8:30EDT. I use Murrey Math lines for targets/pivots...

Thoughts?

Tulkas
Virginia

I have made quite a bit at times trading this pair, both when it is trending, which it does very well at times and can cover a great deal of territory, and when it is ranging. When ranging, I find that an indicator called Rubberband is most helpful. But always remember the pairs which allow you to make the most pips the fastest are also those which will at other times cause you to lose pips the fastest.

At present I am not trading this pair and have gone to the less volatile EUR/JPY, but will most likely go back to trading GBP/JPY fairly soon.

Good luck with your trading. This can be a very lucrative pair to trade.

Long term, long is the way to go to collect massive interest. For the coming days, a big move is building up. But up or down, your guess is as good as mine. I tend to lean towards an upmove, but that could well be driven by desire more than fact. Anyway not good enough to base any trades.