traders who make more informed decisions with our premium features. Both use a charting engine based on Tradingview so both of them work the same way. Build an overlay, inspect relative strength visually like what I did in Chart #2. Importantly they both have. Consider this second chart which is an overlay of those seven JPY crosses from 08 November 2016. There would be no point to pick one pair over another when they are stuck because the performance is the same. Please, upgrade your browser. Chart #2 JPY crosses overlay since 08 November 2016 (relative strength) m, two common mistakes made by traders.
Your financial objective and risk tolerance may be different from mine. There are many ways to do so but seven common JPY crosses are usdjpy, gbpjpy, cadjpy, eurjpy, audjpy, nzdjpy and sgdjpy. Off-the-shelf solutions, websites like m and m provide existing solutions. Forex Performance Leaders feature.
Choosing the right pair is obviously critical. Even if you get the trend of a currency right, you could be a loser if you do not pick the currency pair that delivers you the best performance. Financial Visualizations, or Finviz, is a website with a mission: "to provide leading financial research, analysis and visualization." The site aims to make market information accessible and provides a lot of information in visual snapshots, allowing traders and investors to quickly find the stock, future. To look at short term ideas like this JPY example, I built the JPY overlay starting from 08 November 2016 because I believe that was a major turning point. Getting the trend right is the first step but choosing the right pair is where many traders stumble. Some pairs move very closely from time to time such as audjpy/nzdjpy and audjpy/eurjpy. Cadjpy is the strongest performer till date. Many times I build an overlay to look at the aftermath/outcome of a major event such as the US Presidential Election last year.
Compare feature in the toolbar that lets you compare different trades in a top-bottom arrangement (multiple panels) or even multiple trades overlaid in a single chart. Ticker, price, perf 5Min. Dear reader, I do not have a financial license to give advice.