Trading The Dragon: GBP/ JPY

Question 1

The GBP/ JPY currency pair is known as the…

Answer 1

Dragon

Question 2

Traders should use… and … to enforce a risk/ reward ratio of 1:1 or higher.

Answer 2

Stops…limits

Question 3

Traders are correct a whopping …% of the time on the GBP/ JPY

Answer 3

66

Question 4

Trading in GBP/ JPY should always entail a ….

Answer 4

Protective stop-loss order

Question 5

… can be an attractive approach when trading GBP/ JPY

Answer 5

Breakouts

Question 6

For traders speculating in ¥ denominated currency pairs, … may be a relevant manner of analysis. It’s a popular technical system that was developed in Japan before World War II.

Answer 6

Ichimoku

Question 7

A large part Ichimoku is called “The …”, which is a moving area of support or resistance plotted on the chart. When price breaks through either side of the …, the trader can often look to trade breakouts by placing a trade in that direction.

Answer 7

Cloud

Question 8

When the price breaks below the cloud, the trader goes ….

Answer 8

Short

Question 9

When the price breaks above the cloud, the trader goes …

Answer 9

Long