Pair GBP:JPY ever since have been my favorite pair in trading.
I love to see the volatility of the pair.Its so interesting to see the chart plunging 100-200 pips in all direction in the single day.
I know from some senior traders,this pair is very dangerous,in term of financial loss causing by its volatilty.You really need a big capital to hold the price that against your position up to 100-150 pips before its reverse to your favor.
But still,I love this pair.I see the real chart and the 'real forex' in this pair.
My 3days 'playing' with this pair also giving a wonderfull result as you can see below :)
I just use simple 'basic' indicator(RSI,MACD,EMA) and fibonacci retracement.
The chart usually I will check first in 4h,then 1h as well as 30' and15' to get the right entry.
'Follow the water flow and ready for reversal' is a good phylosophy in this case...
Remember:
It is only DEMO.
The actual result in live trading could be different story....
Happy trading.
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