The GBP JPY signals are used to be able to make profits without making errors in the moment you start trading that pair. Before getting the suppliers indicated for this pair, let’s take a short walk through the history of this pair, its definition, characteristics, etc.
The pairing of these two curious currencies has always aroused the interest of its operators and investors for decades.
What is GBP JYP Pair?
GBP / JPY is the symbol corresponding to the pair of British Pound and Japanese Yen, which searches for how many British pounds are necessary to buy a Yen.
His nickname is “the dragon”. The reputation of this pair comes from its high volatility and wide trading ranges.
This pair is usually a gauge of global economic health, because it often relates the problems faced in Western Europe with those of the Asia region.
Why do people call them “major” currencies?
Normally, the British pound and the Japanese yen are considered worldwide as “Major” currencies. This means that they are currencies that are traded very frequently, in addition to having enough volume to win being among the eight main world currencies.
In the case of the Yen, it is in third place and last but not least, it represents 19% of the volume of foreign exchange trading.
As for the pound it is in fourth place, which corresponds to 12.9% of the volume of foreign currency.
These two currencies functioning as a pair, they are what they call a “cross”.
When a pair is considered a cross, this means that the dollar is not used as part of the pair to calculate any change.
Reasons to trade GBP/JPY Pair
There are certainly many currency pairs and other cryptocurrencies to trade on the market, so in case you still have doubts about trading this pair, we bring you a number of reasons for you to follow through with your decision.
- Volatility: As always, volatility in certain currency pairs plays a super important role. Volatility usually ensures that you have a chance to make a profit. Its volatility is due to the high pip value.
- Nature of the pair: Despite the fact that the British pound was once quite stable, the high interest rates have made the pound to be used in certain operations such as carry.
- Availability of resources: The truth is that currently live trading is much easier than it used to be, because now to trade pairs like this, you have direct access to charts, candlestick charts and also some surprising indicators.
- Risk monitoring: Normally if an economy is in a good position, stocks and raw materials rise and if it is the opposite, then stocks fall.
Therefore, if there is risk aversion, macroeconomic sentiment can be used and thus the trader can benefit. And this pair usually goes up and down for it.
Influences on the movement of GBP / JPY
Certainly, to be able to trade currencies well you must be able to understand what factors can influence their price, in addition to that when you receive signals, some of these factors are also explained, so you should be able to understand them from now on.
- Energy products: The relationship between both currencies usually has an important meaning. Japan has always been highly dependent on imports of crude oil and also natural gas.
This means that there is a strong link between the price of the Japanese yen and also the price of energy staples. So, when global energy prices change, so does the Yen.
- Bank of England (BoE): the central bank usually monitors the currency and also the value of its interests.
- Bank of Japan (BoJ): The BoJ this past year has applied extremely low interest rates, which means that this affects the strength of the Japanese yen against the pound sterling. Therefore, traders must be aware of the Consumer Price Index (CPI).
- Other Currencies: Both the US dollar and the euro will have an impact on the pairing of this currency pair. This is because all currencies tend to have a close correlation.
- Governments: Any election or political decision, disturbance, etc., will directly influence the movement of both currencies and affect their strength.
Best GBP/JPY Signals providers
Now that you know a little bit about this pair, it is time for you to find the right providers for this pair, and we will give you some options. Let’s get going!
FX Scientist has become a favorite for beginner traders due to the ease of reading their signals, good price, and good accuracy. It also offers a token service for crypto.
Their signals are live and you can receive them through their website or mobile application called FX Einstein.
Of course, you can get forex signals from telegram of the GBP / JPY pair.
Each signal is produced by a professional trader who, in addition to this, also handles customer service, which is 24 hours a day, 7 days a week.
Your signals are accompanied by technical and fundamental analysis and you can also find a free 10-day trial period.
This provider is a big one in the Forex signals market and has always been highly recognized.
Its founder and provider of the signals is Joel Kruger. GBP / JPY signals are found here, along with a few other currencies and their pairs.
There is also an advisor available who will answer all your questions regarding the signals you receive. They also provide different types of analysis, such as technical, fundamental, dashboard, and even bank reports.
Regarding the price, its monthly payment is $ 30, and it includes 5 technical analysis reports and more than 5 weekly signals of the pair of your choice.
We have the last option, the best of all. Although this is a well-known broker in the market.
In Forex.com you can have free access to its advanced tools, you also have signals.
These signals are free and you can find them accompanied by commercial advice from different professional traders.
There are also automatic market surveys where you will find GBP / JPY signals. Here you can also find Technical signal analysis forecasts. Give it a try.
Summary GBP/JPY Signals
It is already quite clear that the Yen pair next to the British pound is an excellent pair to trade.
Due to its volatility and also profitability it is a great pair.
In case you want to improve your strategy and others, do not forget to make proper use of the best signals on the market.