GBP/JPY

198.775
0.12%

Daily
  • L. 198.358
  • H. 198.917
  • Ch. 0.232
  • Ch.% 0.12%
Overview
Costs & Margins
  • GBP/JPY is the forex ticker for the currency pair representing the British pound sterling and the Japanese yen. The pound sterling is listed first as the base currency, so the value of GBP/JPY tells you how many Japanese yen it takes to buy one British pound.

    A popular time to trade GBP/JPY is when both the London and Tokyo sessions overlap, between 8am and 9am GMT.

    Like other pairs that include the Japanese yen as the quote currency, the pair’s value is often above 100, meaning pip values are at the second decimal point instead of the fourth.

  • Margin From
    5.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    10
  • Long
    273.36
  • Short
    -274.33
  • Min Stop Distance
    2.7 Points
  • Guaranteed Order Minimum
    18.0 Points
  • Guaranteed Order Premium
    4.0 units of quantity
  • Spreads
  • Spreads From
    0.031 Points
  • Margins
  • 0 - 31000 000
    5.0 %
  • 31000 000 - 150000 000
    7.0 %
  • 150000 000 +
    10.0 %
  • Dealing
  • Spreads
    0.031 Points
  • Guaranteed Order Min Distance
    18.0 Points
  • Margins
  • 0 - 31000 000
    5.0 %
  • 31000 000 - 150000 000
    7.0 %
  • 150000 000 +
    10.0 %

Pivot points
Dailys
Weekly
Monthly
Pivot point
198.194
Bid
198.754
Offer
198.796
Distance
0
Last Updated: 5/20/2024 11:59:59 PM
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Why do people trade currencies?

People trade currencies for lots of different reasons. You’ve probably traded a currency if you’ve ever bought goods overseas, for example, or gone on a foreign holiday. However, the vast majority of FX trading is done for profit.

Currencies are constantly moving in value against each other. On any given day, the pound might be rising against the dollar, while the euro falls against the Swiss franc. Forex traders buy and sell currency pairs to try and take advantage of this volatility and earn a return.

For instance, if the Australian dollar is rising against the US dollar, you might buy AUD/USD. When you buy this pair, you’re buying Australian dollars (AUD) by selling the US dollar (USD). Then, if Australian dollars continue to outpace US dollars, you can sell the pair to exchange your AUD back for USD and keep the difference as profit.

Confused? See more examples of how FX trading works.

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Where is forex traded?

Forex is traded via a global network of banks in what’s known as an over-the-counter market – unlike shares and commodities, which are bought and sold on exchanges. Because of this, you can trade forex 24-hours a day five days a week.

FX trading is split across four main ‘hubs’ in London, Tokyo, New York and Sydney. When banks in one of these areas close, those in another open, which is what facilitates round-the-clock trading.

However, there’s no physical location where these banks and individuals trade with each other. Instead, it is entirely online.

Learn more about how to trade forex.

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When is the forex market open for trading?

The forex market is open for trading 24 hours a day, five days a week. That means with FX, you can build your trading strategy around your schedule, instead of having to conform to when a stock exchange is open.

However, there are times when the market is much more active, and times when it is comparatively dormant. To learn the best times to trade forex, read our FX market hours page.

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