How to trade GBP/JPY forex pair
- Open an account to get started, or practice on a demo account
- Choose your forex trading platform
- Open, monitor, and close positions on GBP/JPY
Trading forex requires an account with a forex provider like IG. GBP/JPY can be found in IG’s platform under the ‘Minor’ pairs tab. Many traders also watch major forex pairs like EUR/USD and USD/JPY for potential opportunities based on economic events such as inflation releases or interest rate decisions. Economic events can produce more volatility for forex pairs, which can mean greater potential profits and losses as risks can increase at these times.
You can help develop your forex trading strategies using resources like IG’s Trading Academy. Once your strategy is developed, you can follow the above steps to opening an account and getting started trading forex.
Your profit or loss is calculated according to your full position size. Leverage will magnify both your profits and losses. It’s important to manage your risks carefully as losses can exceed your deposit. Ensure you understand the risks and benefits associated with trading leveraged products before you start trading with them. Trade using money you’re comfortable losing.
