Many forex traders have either been told, or have learnt from painful experience, that the Yen currency pairs can be both dangerous and volatile to trade. The GBP/JPY is perhaps the most infamous and volatile of all. No wonder then, that many forex traders simply stay away from the Yen currency pairs. But then they probably don’t have a very clear idea of where the Yen itself is heading. If they did, then trading the Yen pairs would be much more straightforward.
And this is where the Quantum JPYX indicator steps in. It has been designed to give you the heads up on where the Japanese yen is heading next, against a basket of four currencies. The index is then constructed using an equal weighting of 25% as follows:
- US Dollar
- Australian Dollar
- New Zealand Dollar
Best of all, you can simply attach to the bottom of your chart, and never have to leave your MT4 account. The indicator plots strength or weakness in the Yen as a single line, supported by two simple moving averages.
For an even more forensic view of the Yen, why not combine it with the Quantum Currency Strength indicator. Now you can trade the Yen currency pairs with complete confidence.