Earlier this morning someone asked me, if I only traded one currency pair, which one would I choose? My first thought was “its got to be one of the Yen crosses”, but you know, this wasn’t the case for December or November last year…
In this moment, I think the yen crosses are the ones that are offering the best trading opportunities, specially the AUDJPY, NZDJPY, CADJPY and CHFJPY (all of them trading in a bullish market condition). But I also remember last year the GBPCHF and the EURGBP were trading in between consistent support and resistance levels, so I was focusing on them back then… And earlier 2009, I was focusing in the EURJPY and GBPJPY… and earlier the commodity pairs.
So I guess, the best Forex pair to trade changes, just as the market condition does. It would be good to know though in which pairs to focus, which pairs are trading in between consistent S&R levels, etc so we can get better results.
So I guess my answer to the earlier question… it depends. Right now I would choose the AUDJPY or the NZDJPY.