The GBP/JPY currency pair is one of the most popular among traders. It tracks the exchange rate between the British Pound and Japanese Yen and allows traders to benefit from changes in the value of these two currencies.
Historically, this currency pair has been volatile due to its low liquidity and wide spreads. However, in recent years it has become much more attractive for traders as a result of increased liquidity and tighter spreads. This increased liquidity means that traders can enter or exit their positions quickly without suffering too much market impact.
Traders should be aware that the GBP/JPY is heavily dependent on global economic news from both countries, particularly on GDP figures and statements from central bankers. By keeping an eye on political developments, economic data releases, and market sentiment, traders can capitalize on opportunities presented by this currency pair to generate profits.
The British pound and Japanese yen have had a tumultuous relationship over the years. The exchange rate between these two major global currencies is highly volatile, with significant shifts in value happening frequently. As of March 2023, one British pound is worth around 160 Japanese yen – although this rate has been known to fluctuate greatly over time.
In the past, the value of the pound has varied dramatically when compared to the yen. For example, in January 2018 one British pound was worth as much as 175.87 Japanese yen, while just a year later in January 2019 it had plummeted to 131.33 yen – an overall drop of around 25%. This dramatic decrease can be attributed to a variety of factors, such as political uncertainty in the UK and fluctuations in global economic trends.
The GBPJPY currency pair is a highly liquid and popular pair, especially amongst traders. Its high liquidity means that it can be traded with tight spreads, making it an attractive option for traders looking to make quick profits with minimal risk. Additionally, the British Pound and the Japanese Yen are two of the most widely used currencies in international transactions, making GBPJPY an attractive pair to trade.
The other related pairs to the GBPJPY include the EURGBP and GBPCAD pairs. Both of these pairs involve the British Pound, however they are traded against the Euro and Canadian dollar respectively. These pairs offer traders different opportunities due to their respective strengths and weaknesses in the international markets. The EURGBP pair is typically more volatile than the GBPCAD pair, making it well-suited to traders who are looking for short-term profits from price movements. On the other hand, the GBPCAD pair can offer longer-term investors larger potential gains due to its relatively low volatility when compared to other currency pairs.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.