I've noticed the most discussed thread on GBPJPY focuses more on intraday and very little is going on about the scope. So hopefully this thread will be useful to swing traders and individuals can contribute.

Anyhow my personal opinion for this pair is for it to break through its previous high at around 250 and I've been going long and buying drops. It's been performing well and I like to share my reasons.

Firstly, fundamentally this pair yields the highest interest and even if the Mervyn King slash interest rates or the BOJ increases interest rates, the yield will be still too great to ignore.

Second, following the sub-prime astrophe this pair was heading upward and resuming its trend. Sure there has been some consolidation and that range phases but its been breaking upwards.

Contributions anyone?