The USDJPY spread betting guide:
Where Can I Spread Bet on USDJPY?
Investors can spread bet on USDJPY, as well as thousands of other markets, by using an account with the following spread betting firms.If you’re trading USDJPY then you should be able to get a spread of 0.8pt or better (for both in hours and out of hours trading).
If your provider is putting up a wide spread for this market then you might want to have a look around for a new platform.
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Remember – spread betting is high risk, your losses can exceed your deposits.
Live USDJPY Chart
Live USDJPY Chart
Where Can I Get Live Spread Betting Prices and Charts for USDJPY?
The quick chart above provides you with a handy view of the current market trends.Still, if you’re financial spread betting on USDJPY, the firms mentioned above have platforms with live prices and charts that have more advanced options.
Typical trading chart:
USDJPY Spread Betting Example
This means you can bet on USDJPY to go above ¥101.932 or go below ¥101.924.
When placing a spread bet, investors speculate on every unit the market increases or decreases. In this case, with the USDJPY market a unit is ¥0.010 of the FX rate’s price movement.
Let’s say, for this example, you decide to bet £2 for every ¥0.010 USDJPY rises or falls.
Speculating on the Market to Rise
If you bought USDJPY at ¥101.932 and the FX rate rose then the quote might become ¥102.544 – ¥102.552. If that happened, you could close your bet for a profit at ¥102.544.Profit/Loss = (settlement level of the market – initial level of the market) x stake per ¥0.010
Profit/Loss = (¥102.544 – ¥101.932) x £2 per ¥0.010 stake
Profit/Loss = ¥0.612 x £2 per ¥0.010
Profit/Loss = £122.40 profit
Nevertheless, if the FX rate were to fall to ¥101.371 – ¥101.379, you might want to close your trade to prevent further losses. Assuming this was the case, you’d sell at ¥101.371.
You would close your bet with the same £2 per ¥0.010 stake:
Profit/Loss = (settlement level of the market – initial level of the market) x stake per ¥0.010
Profit/Loss = (¥101.371 – ¥101.932) x £2 per ¥0.010 stake
Profit/Loss = -¥0.561 x £2 per ¥0.010
Profit/Loss = -£112.20 loss
Speculating on the Market to Fall
One of the advantages of spread betting is that you can go short of the markets, i.e. bet that the markets will fall.When we began this example, the market was ¥101.924 – ¥101.932.
If you went short of USDJPY at ¥101.924 and the FX rate went down then you might see the quote drop to ¥101.396 – ¥101.404. Therefore, you might decide to close your trade for a profit by buying at ¥101.404.
Profit/Loss = (initial level of the market – settlement level of the market) x stake per ¥0.010
Profit/Loss = (¥101.924 – ¥101.404) x £2 per ¥0.010 stake
Profit/Loss = ¥0.520 x £2 per ¥0.010
Profit/Loss = £104.00 profit
Markets can also rise, if the FX rate had risen to ¥102.392 – ¥102.400, you could close your position to restrict your losses. If this were the case, you would buy at ¥102.400.
So, with the same £2 per ¥0.010 stake:
Profit/Loss = (initial level of the market – settlement level of the market) x stake per ¥0.010
Profit/Loss = (¥101.924 – ¥102.400) x £2 per ¥0.010 stake
Profit/Loss = -¥0.476 x £2 per ¥0.010
Profit/Loss = -£95.20 loss
USDJPY Rolling Daily spread betting prices correct as of 9-Nov-16.
Be aware that this is a ‘Rolling Daily’ trade. This kind of market doesn’t have a fixed expiry date and instead rolls over to the next session automatically. When a market rolls over you may be charged a small overnight financing fee or receive a small credit. For more information see rolling daily charges.
USDJPY Demo Accounts
The following platforms offer free practice accounts. You can use these to place spread bets on USDJPY without taking on any risk.
Spread betting carries a high level of risk. You can lose more than your initial investment or stake. Spread betting may not be suitable for all investors. Only trade with money that you can afford to lose. Make sure you fully understand the risk involved. If necessary, seek independent financial advice.