USD / JPY Spread Betting
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Welcome to Clean Financial's guide to USD / JPY spread betting.
Quick and simple answers to common USD / JPY questions:
Q) Where can I Spread Bet on USD / JPY?
Q) Where can I Trade for Free on USD / JPY?
Q) How to Spread Bet on USD / JPY?
Q) Where can I find Free Live Prices on USD / JPY?
Q) Where can I find Free USD / JPY Charts?
Q) Where can I find free Forex Trading News?
Q) Where can I find Narrow Forex Spreads?
Q) Where can I Trade Fixed-Odds Forex?
Advert:
USD / JPY Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on USD / JPY with
Financial Spreads.
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Spread Betting Companies - Forex Spreads Comparison
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| GBP / USD Daily - Spread Size |
2 |
2 |
2 |
3 |
0.8 |
2 |
3 |
2 |
| GBP / USD Daily - Min Stake |
£1 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
£1 |
| GBP / USD Future - Spread Size |
8 |
12 |
8 |
8 |
- |
8 |
16 |
8 |
| GBP / USD Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
- |
£1 |
£1 |
£1 |
| EUR / GBP Daily - Spread Size |
1 |
2 |
1 |
1 |
1 |
1 |
2 |
1 |
| EUR / GBP Daily - Min Stake |
£1 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
£1 |
| EUR / GBP Future - Spread Size |
6 |
10 |
6 |
6 |
- |
6 |
17 |
6 |
| EUR / GBP Future - Min Stake |
£1 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
£1 |
| EUR / USD Daily - Spread Size |
1 |
1 |
1 |
2 |
0.8 |
1 |
2 |
1 |
| EUR / USD Daily - Min Stake |
£1 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
£1 |
| EUR / USD Future - Spread Size |
8 |
12 |
8 |
8 |
3 |
8 |
12 |
8 |
| EUR / USD Future - Min Stake |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
£1 |
| USD / JPY Daily - Spread Size |
1 |
1 |
1 |
2 |
0.8 |
1 |
2 |
1 |
| USD / JPY Daily - Min Stake |
£1 |
£0.50 |
£1 |
£0.5 |
£1 |
£1 |
£1 |
£1 |
| USD / JPY Future - Spread Size |
8 |
12 |
8 |
10 |
- |
8 |
14 |
8 |
| USD / JPY Future - Min Stake |
£1 |
£1 |
£1 |
£0.5 |
- |
£1 |
£1 |
£1 |
Comparison Notes
Where can I Spread Bet on USD / JPY?
You can currently spread bet on USD / JPY and other forex markets at:
Where can I Trade USD / JPY for Free?
It depends upon what you mean by free. If you're looking for a free Demo Account where you can practice spread trading, see below.
Tax Free. If you are looking for a free spread betting platform then don't forget that in the UK spread betting is tax free*
You can also spread bet on USD / JPY markets and other forex markets commission free and with no brokers fees at:
Free Demo Account
If you're looking for a free Practice Account / Test Account where you can trial spread betting, including forex markets like USD / JPY, then you can you can always try:
Each of the above currently offers a free Demo Account.
How to Spread Bet on Forex - USD/JPY Rolling Daily
As with a wide range of markets, it is possible to place a spread bet on currency pairs, like USD/JPY, to either increase or decrease.
If you were to look at the Financial Spreads trading site, they are showing the USD/JPY Rolling Daily market at ¥82.078 - ¥82.088. Therefore, an investor could spread trade on the USD/JPY currency rate:
- Going above ¥82.088, or
- Going below ¥82.078
Whilst making a spread bet on USD/JPY you trade in £x per point where a point is ¥0.010 of the pairs movement. As a result, if you choose to invest £6 per point and USD/JPY moves ¥0.050 then that would alter your profits (or losses) by £30. £6 per point x ¥0.050 = £6 per point x 5.0 points = £30.
Rolling Daily FX Markets
One important thing to note is that this is a 'Rolling Daily Market' and therefore unlike a normal spread betting futures market, there is no closing date. Therefore, if you decide not to close your trade by the end of the day, it simply rolls over to the next trading day.
If a bet is rolled over and you are spread betting on the market to:
- Move higher - then you will normally be charged a small financing fee, or
- Move lower - then a small payment is often credited to your account
To find out more about Rolling Daily Markets read our feature Rolling Daily Spread Betting.
USD/JPY Rolling Daily Spread Betting Example
Now, if you think about the above spread of ¥82.078 - ¥82.088 and assume:
- you have done your analysis of the markets, and
- you feel that the USD/JPY market will move above ¥82.088
then you might choose to go long of the market at ¥82.088 for a stake of, for the sake of argument, £3 per point.
With such a spread bet you make a profit of £3 for every point (¥0.010) that the USD/JPY FX pair increases higher than ¥82.088. Of course, such a bet also means that you will make a loss of £3 for every point that the USD/JPY market falls lower than ¥82.088.
Put another way, if you ‘Buy’ a spread bet then your P&L is found by taking the difference between the final price of the market and the price you bought the market at. You then multiply that difference in price by your stake.
With this in mind, if after a few sessions the forex pair started to move upwards then you could choose to close your trade to lock in your profit.
Taking this a step further, if the market did go up then the spread, determined by the spread betting company, could be adjusted to ¥82.498 - ¥82.508. You would settle your position by selling at ¥82.498. Therefore, with the same £3 stake this trade would make you a profit of:
Profit = (Closing Value - Initial Value) x stake
Profit = (¥82.498 - ¥82.088) x £3 per point stake
Profit = ¥0.410 x £3 per point stake
Profit = 41.0 points x £3 per point stake
Profit = £123.00 profit
Trading currencies, by spread betting or otherwise, may not go to plan. With this example, you wanted the forex rate to increase. Naturally, the currency rate could fall.
If the USD/JPY rate weakened, against your expectations, then you could close your trade in order to limit your losses.
If the market dropped to ¥81.739 - ¥81.749 you would settle your spread bet by selling at ¥81.739. If so, your loss would be calculated as:
Loss = (Closing Value - Initial Value) x stake
Loss = (¥81.739 - ¥82.088) x £3 per point stake
Loss = ¥ 0.349 x £3 per point stake
Loss = -34.9 points x £3 per point stake
Loss = -£104.70 loss
Note: USD/JPY Rolling Daily market accurate as of 07-Mar-11.
Where can I Find Free Live Prices on USD / JPY?
If you want to access quick live market information then you could do worse than opening an account with a firm like Financial Spreads.
Also, you don't have to trade with them, if you just open an account (which is free to do) then their data is free. The catch? You'll get the odd email or letter from them. In the example below you can also see that their free charts are also useful.
There are also live prices available at:
Where can I Find Free USD / JPY Charts?
As mentioned above, you can get free charts with spread betting companies like Financial Spreads.
You can alter the charts to see market data by the minute, by the hour, by the week etc, plus many other settings to help you analyse the charts.
As you can see, the charts show how the market's are not perfect and how you can expect the prices to "gap".
FinancialSpreads.com also have another pretty handy tool in their free Demo account (mentioned above). You can open a Demo account and place demo trades whilst you practice with no risk or cost attached.
Where can I Trade Fixed-Odds USD / JPY?
You can trade a range of Fixed-Odds foreign exchange markets like EUR/USD, GBP/USD, EUR/GBP, EUR/JPY, USD/CZK, GBP/NOK etc with BetOnMarkets.
Depending upon the market there are a number of trades available including: Flash Up/Down, 10 minute Intraday Doubles, 60 minute Intraday Doubles, Daily Doubles, Expiry/Boundary contracts.
For more on Fixed-Odds trading see: Financial Fixed Odds.
Advert:
USD / JPY Spread Betting, sponsored by
FinancialSpreads.com.
You can spread bet on USD / JPY with
Financial Spreads.
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Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
'USD / JPY Spread Betting' by DB, updated 02-Feb-12
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