British Pound vs. Japanese Yen
The GBP (British Pound) against the JPY (Japanese Yen) pairing represents how much Yen is required to buy a single sterling pound. GBP/JPY is a pair commonly followed by forex day traders and scalpers. Day traders like the volatile and wide fluctuations the pair regularly make. For scalpers, there is plenty of liquidity in the pair to rapidly get out of and into trades. Further, technical analysis, such as resistance and support trading, usually work efficiently as a result of the number of FX and volume transactions that occur in the pair. GBP/JPY is also a commonly observed market for medium and long-term traders.