The JPY Pairs are the ones to scalp!

Not sure what other members think.... But i am a major jpy fan now.

I was on the cable but as of this week focused on the USD/JPY and GBP/JPY great movement and in my trading session nice and smooth.

last afternoon / night the G/J was giving out 20+ a range! tonight 15+ OMG!!

other scalper/short termers, do you maily focus on the JPY pairs? I can't see my self going back to the cable for a while.

orange lines are my session, it's been like this just about all week.

Try EUR/JPY if you haven't yet, spread better than GJ and it moves both directions almost equally. Many scalpers I know use EJ only. Cable is also not bad at liquidity times.

Hi new,

I prefer the GBP/JPY over it as it has a little more kick. I trade with Interactive Brokers G/J spread mostly 2 -2.5 pips +com . I am not sure why but i have a real soft spot for the usd/jpy???

I did look at the E/J but took the G/J....... do you trade the E/J??

Well I trade only UJ so I can understand . No buddy I don't scalp, but I have some friends who scalp full time and most of them use EJ. They have collected data of the % movement of EJ per session in both directions and its better than GJ. Directions means trend direction and retracement. But it does not matter much if you have good grip over your pair whichever it is

GJ 2-2.5 spread is not at all bad. I have seen EJ under 1 pip spread at currenex and vcap is a step ahead but I think you would already have done the comparisons.

Hi Apocalpto.

I started with EJ, went to EU, back to EJ and now am on GU.

You are correct that GJ has a little more kick than EJ, in that if entry is correct, it gets to well past b/e relatively quickly, and when there is an overshoot in our direction, can get >10pips extra just on an overshoot. Always a good bonus.

But I still do not trade gj for the simple reason that as scalpers (which I think I read you were), we are trying to minimize loss if our entry is wrong. gj requirs a much greater level of room to see if we are wrong. I have seen most scalpers trade ej instead of gj, for this simle reason. Loss minimiztion, gj is not that great. EJ is 1/3 the spread of gj, moves about 1/2 the same moves, and also, commissions are less trading eur based rather than gbp.

But I have had extensive chats with a pro trader who trades UJ and EU. His views and 1 particular trade of mine led me to stop trading crosses (not to be confused with uj). I was in an ej trade, everything in my setup lined up, was in profit 3pips, and all of a sudden, it shot against me -10, then -15 and kept going. I normally have a eu chart up when trading ej, and saw eu going down, so thought wtf!! pulled up a uj chart, and it was taking off like a missile.

The only time that I trade ej now is when uj and eu are moving in the same direction. Often I have seen ej move, and then snap back like 10pips, only to continue in the original direction. Hence, I stick to a pure pair, like gu or eu.

But if it was a choice b/w ej or gj, most of the scalpers I know would be trading ej.

Cheers,
K.

another nice afternoon/ night on the JPY pairs (G/J $/J) not going any ware, me thinks.

not much on the G/J compared to the $/J going to watch the E/J as well this week.

New,
It's good you are getting out their and experimenting with different pairs. There is more out their than Eur/Usd, Gbp/Usd, & Gbp/Jpy. As most traders trade those 3 pairs, I've discovered a while back the value in non-popular pairs. The pairs I think most traders sleep on are the AUD and sometimes NZD. And don't forget about the cross-pairs. I trade Eur/Gbp exclusively and scalp Usd/Jpy when there's an set up.

Thanks, Well at one point I wanted to trade HKD/USD....j/k. There is nothing to experiment just trade EUR/CHF

the JPY has recorded some bearish trends lately,
gbp/jpy rose 600 pips!!!
eur/jpy and gbp/jpy are much more volatile but 600 pips!!! just be in the right direction!
anyhow 2morrow trade balance will be published...

It surprised me that E/U more often than the JPY went into penny stock PA mode on the 5/10 sec charts (during the aussie and japanese sessions). To somebody coming from the 4H charts this was revelation.
I did not expect liquidity to dry up on E/U as much as it does.

If you specialize in U/J then you have a pair that both Tokyo, London and NYC traders focus on. And yes you are absolutely right that overcoming the G/J spread is an issue, especially if you start to increase size, you will probably not be seeing those 2-3 spreads frequently. The only thing to do is to reduce size to adjust to volatility so that you get action resembling U/J or E/J.

fxterrapin

Looking at a 5 sec NZD- or AUD-cross chart would put just about anybody to sleep. (ok that was smart-ass).

Yeah, I agree. Getting rid of the EUR/USD component when scalping frees things up quite a bit.

GBP/USD and USD/JPY are good on their own or together.

gj needs to come out from hiding and get moving again