GBP JPY Forex Signals
The GBPJPY is a currency pairing between the Great Britain Pound (GBP) and the Japanese yen (JPY), GBPJPY is one of the most volatile pairs in forex, and it is capable of doing several pips in a twinkle of an eye.
Here, GBP is the base currency while JPY is the counter or quote currency; which means is we send GBP JPY Forex trade signals for sell, it means we are selling the GBP in anticipation for that JPY will appreciate.
GBPJPY Trade Signals
Knowing fully well how volatile this pair can be, especially if there are significant fundamental news to be released; Our team of an analyst at Nys Trading ensures that trades taken on GBPJPY have a high potential of going in the speculated direction. This is because the stop loss for GBP JPY forex signals is usually more than 100 pips due to its very volatile nature.
Fundamental Factors that Affect GBPJPY
Fundamental data such as the Bank of England (BoE) financial stability report, GDP, interest rate, and speeches from Bank of England governor all affect the direction and volatility of the GBPJPY.
On the other hand, interest rate from the Bank of Japan (BoJ) and speeches from the BoJ governor influences the volatility and direction of this pair as well. Another driving force for the Japanese yen pairs is the USD JPY; USDJPY seems to influence the direction of these Japanese yen pairs one way or the other.
Our GBP JPY forex trade signals can also be generated based on pure price action, even if there are major fundamental releases, the chart is a reflection of all these fundamental factors put together, and as such we can enter trades based on price action at resistance and support areas prior to the time the news is released.
What is the Risk-Reward Ratio for GBPJPY Trade Signals?
As stated earlier the stop loss for our GBPJPY signal may be more than 100 pips, in this case, our risk-reward ratio may be 2: 5, 1:3 as the case may be. This is so to allow the trade to breathe considering the volatility nature of this pair.
Are the Signals for GBPJPY Instant Execution or Pending Orders?
Our GBP JPY forex trade signals can come in the form of pending orders or an instant order. For the instant execution, it is expected that the traders enter the market at the current market price and if it is a pending order, we will send the entry price, stop loss and take profit.
Are there any Updates on GBPJPY Trade Signals?
Absolutely Yes!! We update our subscribers if there is any need to adjust our open trades. These updates may come as a result of deciding to lock some profit after the trade has gone in our favor or to exit an open trade to cut losses, or it can be an update to move stop to entry or even exit a trade before it gets to our take profit.