GBP/JPY

160.485
0.71%
Daily
  • L. 160.414
  • H. 161.625
  • Ch. -1.137
  • Ch.% -0.71%
Overview
Costs & Margins
  • GBP/JPY is the forex ticker for the exchange rate between the British pound and the Japanese yen. It tells traders how many yen are needed to buy a single pound.

    GBP/JPY is a minor or cross-currency pair, as it combines two of the major currencies without the US dollar. The Japanese yen is the third most-traded currency on the market by volume, while the British pound is fourth.1

    The pair is impacted by a variety of factors, mainly macroeconomic data such as employment, trade balance, retail sales and manufacturing for each country, as well as central bank decisions and political news.

    1BIS Triennial Survey, 2022

  • Margin From
    3.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1000
  • Long
    0.94
  • Short
    -1.54
  • Min Stop Distance
    0.027 points
  • Spreads
  • Spreads From
    0.023 Points
  • Margins
  • 0 - 3600 000
    3.0 %
  • 3600 000 - 7200 000
    3.0 %
  • 7200 000 - 14000 000
    3.0 %
  • 14000 000 - 18000 000
    3.0 %
  • 18000 000 +
    20.0 %
  • Dealing
  • Spreads
    0.023 Points
  • Margins
  • 0 - 3600 000
    3.0 %
  • 3600 000 - 7200 000
    3.0 %
  • 7200 000 - 14000 000
    3.0 %
  • 14000 000 - 18000 000
    3.0 %
  • 18000 000 +
    20.0 %

Pivot points
Dailys
Weekly
Monthly
Pivot point
160.812
Bid
161.195
Offer
161.247
Distance
0
Last Updated: 1/24/2023 10:00:00 PM

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Forex is the process by which traders can buy one currency and simultaneously sell another, with the goal to profit from the direction price is likely to take in the future. With a daily trading volume of more than $6.5 trillion, the forex market is the most traded in the world, and is open 24 hours a day, 5 days a week for banks, institutions and individuals worldwide.

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How to trade forex

In order to trade forex, there are a few key steps to follow. First, you need to select a currency pair. Many traders choose a major pair such as EUR/USD due to high liquidity. Next, analyzing the market is key to understanding the technical and fundamental drivers that may affect price. Once you understand how to read the quote, it's time to open your position by going long or short.

You'll need to monitor your trade, with many traders using technical indicators to make better sense of price action, and features such as stops and limits to manage risk. Finally, you can close your position when the market hits a price at which you want to exit.

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