Trading the Yen Crosses

The Japanese Yen crosses are the most popular crosses among forex traders as they have fluid and sharp moves giving traders enough opportunity to make money on a daily basis. Let us explore these crosses and expand on their characteristics. 

EURJPY

EURJPY has the highest volume of the JPY crosses according to the latest Triennial Central Bank Survey from the Bank for International Settlements.The pair can swing in reaction to Eurozone debt crisis announcements, economic data releases, policy decisions, and trends in market sentiment.

GBPJPY

GBPJPY also known as Geppy or the beast is the most famous pair known for its volatility and big moves. Beginners are attracted to it because of its promised deliverance of pips.Also known as the driver of all the currencies, GBPJPY in recent times has become more wild and volatile due to Brexit, BOE statements and Japanese Bond buying announcements.

AUDJPY

AUDJPY another star mover is the most famous cross known for its carry traders. The interest rate differential between AUD and JPY is big which makes the cross attractive in both Risk-on and Risk-off markets.

NZDJPY

NZDJPY follows a similar carry trade pattern of AUDJPY but things heat up for this pair in the Asian session at the announcement of any NZ data. The Tokyo session also provides impetus for JPY volatility when combined with NZD data announcement make NZDJPY one of the most explosive pairs during that session.

There is 87% positive correlation between CAD/JPY and oil. Canada is the second largest owner of oil reserves and 99% of Japan’s Crude oil is imported.This makes for an interesting yet predictable pair movement.

CHFJPY

The currency pair CHF / JPY is easy to forecast, and suits for beginner traders. The yen is one of the main reserve currencies; and the franc is among the most reliable ones.

Which YEN cross do you most frequently trade?

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