The GBP/JPY pair, which forex traders call “Geppy” and “The Beast,” is seen as a good indicator of the health of the global economy. These different currencies show a lot about the health of the economies and how decisions are made in both the Asia-Pacific region and Western Europe.
But traders shouldn’t let the fact that GBP/JPY is used as an economic indicator trick them into thinking it’s a safe pair for beginners to start with. Even though the pairing’s volatility is great for making money, it also puts forex traders at a lot of risk. Because of this, “Geppy” is known as one of the most dangerous forex pairs.
It is possible to make money trading “The Beast,” but traders should be careful and learn all they can about how complex this forex offering is.
Why people love the GBP/JPY pair
Traders like the GBP/JPY pair for a number of different reasons. But its historical volatility is by far the biggest reason. This is because it causes big price swings that traders can use to make money on open positions, often in a short amount of time.
When a currency pair with a high yield, like GBP, is paired with a currency with a low yield, like JPY, this creates a dissonance that can be used to make a carry trade. In this strategy, traders borrow money from a currency with a low yield to buy a currency with a higher yield. They can then make money by moving money around and taking advantage of yield differences. GBP/JPY is a great pair of currencies for traders who want to try this strategy.
This currency pair is called “The Beast” because prices move quickly and in large ranges. Even though it can make a lot of money, there is also a chance of losing a lot of money.
The good things about trading “The Beast”
As was already said, the GBP/JPY pair’s volatility gives traders a natural and recurring chance to make money. Both of these currencies have a lot of trading volume and are heavily affected by economic news from both countries. This can help any trader who bases their trading strategy on event-based data points.
GBP/JPY can be traded in a lot of different ways, such as long and short positions, carry trades, and contract-for-difference (CFD) trading.
The pairing is also great for traders who like to pair large, stable currencies with smaller, more active currencies. In this case, GBP is the larger and more stable side of the pairing. When combined with JPY, it makes for more movement and data variability as traders try to predict trading opportunities that will be profitable.
Trading “The Beast” Could Be Dangerous
As a key economic link between major economies in different parts of the world, the GBP/JPY pair is very volatile and hard to predict or track with traditional triggers or indicators.
Due to this high risk, GBP/JPY is almost never a good choice for traders who are just starting out. To make an educated guess about how the pair’s price will move, traders need to use complex trade evaluation techniques. Only time and practice will give traders the skills they need to analyze these possibilities with any sense of accuracy. Even experienced traders have trouble coming up with a reliable way to look at indicators and decide when to trade. This is mostly because the traditional triggers that have worked well with other currency pairs are hard to use with GBP/JPY.
With CFD trading, the risks are even higher because a leveraged position can quickly lead to huge losses that are much bigger than your account balance. This is especially true if you use a brokerage that doesn’t protect you against negative balances. Most traders know that CFD trading is dangerous for any pair of currencies, but GBP/JPY makes the risks even worse.
Carry trade strategies are the same. Even though a carry trade isn’t as risky as CFD trading, it can still leave you open to economic events and trends that go against your plan and cause your trading account to lose a lot of money.
Which GBP/JPY Trade Indicators to Watch How Energy Commodities Affect the Market
GBP/JPY can be affected by the usual things that cause currency prices to change, like economic reports, policy announcements from both the Bank of England and the Bank of Japan, and political news. But it can be hard to figure out what this news might mean for the price because these triggers don’t affect GBP/JPY the same way they do for other pairs.
The role of energy commodities for both Great Britain and Japan is one of the more reliable factors that affects prices. Great Britain is one of the world’s biggest exporters of crude oil, but Japan is one of the biggest importers of that product and the second-largest importer of natural gas. JPY tends to go up or down with changes in the price of energy around the world.
When prices for crude oil or natural gas drop, like they did at the end of 2014, it can hurt the value of the GBP while helping the JPY. When both of these things happen at the same time, the GBP/JPY exchange rate can change quickly and dramatically.
Rates of interest
Interest rates have always been high in the UK, while rates in Japan have been either zero or negative for the last two decades. Because of this, the carry trade, which is when you have long positions in GBP and short positions in JPY and hold them overnight to get positive swap interest, is very popular. This can be a good strategy, but if there is a lot of short-term volatility, the positions held can be easily lost. January 2019 was the last time this happened.
Some other technical signs
When trading GBP/JPY, economic events and reports are especially helpful. This is because the JPY tends to be affected by economic events in Japan. But you can and should also use other technical indicators in your trading plan.
Some common ways to use GBP/JPY indicators are:
- Stochastic oscillator: Because “The Beast” is so volatile, price swings often move into “overbought” or “oversold” territory. You can use the stochastic oscillator to find these situations and open a position in the hope that prices will soon move in the opposite direction.
- Moving averages: If you plot two different moving averages on the GBP/JPY chart, you can trade based on when these two lines cross. Depending on how long you plan to trade, a common way to use moving averages is to plot the 21-day exponential moving average (EMA) and the 50-day EMA on the GBP/JPY chart. When the 21-day line is above the 50-day line, long positions are more likely. When the 50-day EMA is above the 21-day EMA, on the other hand, short positions can be thought about.
- Moving average convergence-divergence (MACD): Even a trader who is just starting out can see that Geppy’s price is likely to change over time and do many reversals. But how can you tell how long a price swing will last? This is where MACD can help: It can help you judge and predict price momentum so you don’t give up on a position too soon when the value and profits are expected to keep going up for a long time. On the other hand, it can help you figure out when to get out of a position before the momentum changes.
How to Know When to Trade
Because Japan and Great Britain are on different time zones, economic reports and other news that affects the market rarely come out at the same time in both countries. There is, however, a three-hour overlap between the Asian and European markets, from 5 a.m. to 8 a.m. GMT, during which JPY has historically had the most buyers and sellers.
Between 9:30 p.m. and 3 a.m. GMT, important economic news can also come out of Japan. Traders should keep an eye on what’s happening in the news right now so they can figure out how prices might move before European traders wake up and try to get in on the action. Some experts also say to keep an eye out at certain times of the day, like 6:30 p.m. and 3 a.m. GMT, when official news from Japan tends to come out.
Prepare your game plan.
GBP/JPY is one of the forex pairs with the most risk and reward. Even though traders will probably be attracted to the profit potential, they should wait to trade this pair until they have more experience analyzing charts and indicators and are sure they can analyze GBP/JPY and carry out a trading strategy.
The Forex markets are open 24 hours a day, 7 days a week. The markets are always changing, and there are a million different factors that affect trading opportunities. It can be hard and stressful for people to do the trades on their own sometimes. In this situation, a lot of people choose to use a Forex Indicator. You need the right tools and to know how to use them in order to be successful at anything. As a Forex trader, the first thing you need to do is get indicators that help you make better trades. Great traders can’t be found without good indicators. The emotional factor is taken out of Forex Indicator. This means that feelings like greed or fear don’t get in the way of making smart, good choices.
A Forex Indicator also takes away the stress that comes with trading foreign currencies because it can look at all of the variables at once, which is something people can’t do. Forex Indicator makes decisions faster than people do, so you can jump on trading opportunities right away. With the help of forex expert advisors, you can trade more wisely and increase your chances of making money. But it’s also important to choose the right Forex Indicator, one that will keep you safe and make you money.
What Is Forex Indicator?
Before making trades on the markets platform, Forex traders look at different data to figure out how the market is doing and how it is likely to change in the future. With a thorough analysis of the market, traders should be able to use better trading strategies and make more money.
One way to look at market data is with forex indicators. Indicators try to predict how the market will act in the future by looking at past data, such as the price of a currency, how much of it is traded, and how well the market has done. Once traders have this information, they can make better trading decisions, which could lead to higher returns.
The Best Indicators for Forex
People are always looking for the best Forex indicators. While some indicators are more popular than others, there isn’t always one indicator that is better than the rest. Since there are many kinds of data, the best Forex indicators will depend on the kind of trading you want to do.
So, you shouldn’t act too quickly on information you got quickly. You might not get the advice you need from a quick look at an indicator or a summary of data, especially if your trading goals are different from the author’s or aren’t suited to the type of indicator you’ve looked at.
You can figure out which indicators are best for your trading career by figuring out what kind of trading you want to do and then figuring out how different indicators are.
How do indicators for Forex work?
There are so many technical indicators that it can be hard to choose just a few to use in a trading strategy. Some traders try out one indicator at a time, while others like to use a mix of indicators. Trend indicators, momentum indicators, and volatility indicators are the three main types of technical indicators that forex traders use.
Volume isn’t always seen as a reliable indicator on the decentralized forex market because there isn’t a lot of data about the volume of exchange trading. However, currency traders will sometimes use approximate volume numbers that they get by counting the tick movements of exchange rates.
Your strategy will be more complicated if you use more than one indicator. Even though there are exceptions, it’s usually best not to use two of the same type of indicator because they’ll just confirm each other’s signals. Instead, you should probably choose indicators that work well together.
Whether you decide to use one indicator or more, you will still have to choose which parameters to use. Some indicators have default settings that you should probably use at first. Some require you to choose a time frame for each bar, such as monthly, daily, weekly, or hourly. You might also have to choose a period, which is the number of bars that an indicator uses to figure out its value.
For instance, you can figure out daily moving average indicators for different time periods, such as the last 200, 100, or 50 days. Your strategy could be based on what happens when two or more moving averages cross over each other, or you could just use one moving average plotted over the exchange rate itself.
Indicators for Forex
Here are the different kinds of forex indicators that currency traders should know.
Type 1: Signs of a trend
“The trend is your friend” is a well-known saying among traders in the financial markets. Trend indicators can help you figure out which way trends are going and how strong they are so you can follow them. Here are some of the most common trend indicators.
The average direction change index
The Average Directional Movement Index (ADX) is a useful trend indicator that helps traders figure out how strong the underlying market trend is. It is made up of three parts: the ADX line, the Positive Directional Indicator (+DI), and the Negative Directional Indicator (-DI).
The ADX line is a smoothed moving average (SMMA) of the absolute values of the +DI and -DI components, and its value changes between 0 and 100. The standard period for the ADX is 14 bars, but you can try out different periods.
If the ADX value is between 0 and 25, there is little or no trend. If the ADX is between 25 and 50, the trend is strong. If the ADX is between 50 and 75, the trend is very strong. When the value is between 75 and 100, the trend is very strong.
Moving Averages
Moving averages can also help you figure out which way a trend is going. The easiest way to do this is to plot a simple moving average on a chart and then check if the exchange rate is above or below the moving average. If the exchange rate is higher than its moving average, that means that the pair of currencies is going up.
In the same way, you can compare two moving averages, like a 100-day MA and a 200-day MA. When the 100-day MA is higher than the 200-day MA, the indicators show that the price is going up. You can even trade based on when a moving average crosses over another.
SAR parabolique
It’s easy to use the Parabolic SAR indicator. Technical analysis software shows it as a series of dots above or below each candle or bar on a chart. When the dots are drawn above the exchange rate, it means that the market is getting worse. When the dots show up below the exchange rate, on the other hand, that means the market is strong.
The Parabolic SAR indicator is a great way to find changes in the market. If the dots move from above to below the exchange rate, that means a trend is starting to go up. If the dots move from below to above, that means a trend is starting to go down.
One way to use the Parabolic SAR could be to wait for a change to signal a change in direction. Then, make a trade in the direction shown once four dots in a row show that the move is real.
Type 2: Signs of movement
This group of forex indicators measures how quickly exchange rates change. Some people also call them rate of change indicators.
Index of relative strength
The Relative Strength Index, or RSI, can help you figure out if a currency pair has been overbought or oversold. The default calculation period is 14 candles or bars, and the value of the RSI moves between 0 and 100. If the RSI is 70 or higher, it means that the currency pair has been bought too much, while a reading below 30 means that it has been sold too much.
Moving Average Convergence Divergence Oscillator (MACD Oscillator)
Another way to measure momentum is with the Moving Average Convergence Divergence (MACD) oscillator. Sometimes it is shown with two lines (MACD and signal) and a histogram, and sometimes it is shown with just one signal line and a histogram.
“MACD(A,B,C)” is a common notation that means the MACD series is the difference of two exponential moving averages (EMAs) with periods A and B, and the average series is an EMA of the MACD series with period C. Most traders use the default setting of A=12, B=26, and C=9 periods, or MACD (12,26,9).
Using these standard values, the MACD line is found by taking the difference between the 26-day EMA and the 12-day EMA and adding it to 0. The MACD line’s 9-day exponential moving average (EMA) is the signal line, and the difference between the MACD line and the signal line is the MACD histogram.
Traders can look for the MACD line to cross over the signal line when the histogram changes direction. This could be seen as a buy signal if the MACD line crosses above the signal line or a sell signal if the MACD line crosses below the signal line.
The MACD line crossing its horizontal axis is another kind of MACD crossover. This means that the values of the fast and slow EMAs are the same. When the MACD line goes negative, it’s a sign that prices will go down, and when it goes up, it’s a sign that prices will go up.
Traders might also look for a difference between the exchange rate and the MACD to show a change in market momentum that could lead to a reversal. So, if the exchange rate makes a higher high but the MACD makes a lower high, that would be a sign that the trend is about to change in a bearish way. On the other hand, a bullish reversal signal would be if the exchange rate made a lower low but the MACD made a higher low.
Other Signs of Progress
Some traders also use the stochastic oscillator to show how the market is moving and to figure out when prices are too high or too low. Some traders who are more experienced might use the Ichimoku Kinko Hyo system, which is a complicated technical indicator with a graph that can help them figure out how the market is moving. It is made up of support and resistance levels, crossovers, oscillators, and trend indicators.
Type 3: Indicators of Volatility
Bollinger Bands
You can use Bollinger Bands to figure out how volatile a currency pair is. Before you can put them on a chart, you need to figure out their standard deviation and moving average. Then, you add two standard deviations to the moving average and subtract two standard deviations from the moving average to make lines above and below the moving average.
Some traders wait for the exchange rate to go above the upper band or below the lower band. This is a sign that they should sell or buy. This strategy works best in a market that goes up and down a lot but usually goes back to its average value.
Average True Range
Average True Range (ATR) is found by taking the exponential moving average (EMA) of the difference between the day’s high and low exchange rates, or between the day’s high and close, or between the day’s close and low exchange rates. The ATR is used to measure how volatile something is, and it can also be used to help manage risks.
Volume indicators
As was mentioned above, it is not as easy to see volume on the decentralized forex market as it is on markets that are mostly exchange-traded. By counting the number of ticks in the exchange rate, you can get an idea of the volume, which can be used to calculate some useful indicators.
Money Flow Chaikin
One example is Chaikin Money Flow (CMF), which is a volume-weighted average of accumulation and distribution over a certain amount of time, usually 21 days. It can move between 1 and -1, but most of the time it moves between 0.5 and -0.5. Values above zero show that there is pressure to buy, while values below zero show that there is pressure to sell.
Distribution Line of Accumulation
The Accumulation Distribution Line is also made with the help of volume data. When this indicator moves in the same direction as the exchange rate, it can help confirm a trend.
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FREQUENTLY ASKED QUESTIONS
The foreign exchange market (forex, FX, or currency market) is a worldwide decentralized over-the-counter financial market for the trading of currencies. The foreign exchange market is the largest and most liquid financial market in the world. Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Daily turnover was reported to be over US $3.98 trillion in April 2010 by the Bank for International Settlements.
MetaTrader 4 indicators are powerful technical analysis tools which can help you to identify market trends and provide evidence for your predictions about future price movements.
Yes it is easy to use. MT4 indicators are a mathematical calculation of the price, time or volume, that will give you either a leading or lagging trade signal. No need to be professional. Everyone can do it. It is completely hands free and the whole process is 100% automated.
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Yes Forex Indicator can work 24 hours per day from the market opening on Monday to the market closing on Friday.
MT4 is a free trading platform. You can download it from the official web sites of your broker. Here is the list of most popular brokers.
First you need a computer with a minimal hardware configuration and a stable internet connection. Second you need to install Metatrader 4 trading platform. You don’t need to have any additional Forex knowledge.
You can use any broker that offers the Metatrader 4 trading platform. But for Best Result we suggest you to trade with most popular brokers.
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We know that the money is the main question. We know well that many people don’t have much money to get started. Our Indicator is made to be able to trade with a minimum amount of money. The minimum amount depends to your brokerage company too. You can start trading with a small amount as $5.
Every Forex Indicator is unique. Please check the guide before trading. If you don’t understand which one is suitable please contact us.
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Yes you can use. Please Backtest before using it in a real trading. Or use Demo Trade for at least one month with your broker spread and proper balance. Never use in live trading with any pair without demo testing. It is always better to invest time before losing any money.
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