The EURJPY spread betting guide:
Where Can I Spread Bet on EURJPY?
Investors can put spread bets on EURJPY by using an account with these providers:
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| Dollar/Yen Daily |
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| Euro/Dollar Daily |
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| Euro/Sterling Daily |
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| Sterling/Dollar Daily |
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| Sterling/Euro Daily |
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| Other Forex |
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Remember – spread betting is high risk, your losses can exceed your deposits.
Live EURJPY Chart
Live EURJPY Chart
Where Can I Get Live Spread Betting Prices and Charts for EURJPY?
The chart shown above offers you a helpful view of the market.Still, for those that are spread betting on EURJPY, the above firms have platforms with real-time price updates and more sophisticated charts.
Example candlestick chart:
EURJPY Spread Betting Example
As a result, you could speculate on EURJPY to move higher than ¥137.085 or to move lower than ¥137.069.
When spread betting, investors trade on every unit the market moves up or down. Specifically, for the EURJPY market a unit is ¥0.010 of the FX pair’s price movement.
With this example, let’s say you decide to trade £5 for every ¥0.010 EURJPY goes up or down.
Buying – Speculating on the Market to Increase
If you were to go long of EURJPY at ¥137.085 and the FX pair went up then the spread could move to ¥137.428 – ¥137.444. If so, you might decide to close your bet for a profit by selling at ¥137.428.Profit or Loss = (settlement price of the market – initial price of the market) x stake per ¥0.010
Profit or Loss = (¥137.428 – ¥137.085) x £5 per ¥0.010 stake
Profit or Loss = ¥0.343 x £5 per ¥0.010
Profit or Loss = £171.50 profit
Financial markets also move down, if the FX pair had fallen to, for example, ¥136.777 – ¥136.793, you might want to close your bet to restrict your losses. Assuming this was the case, you would place a sell trade at ¥136.777.
Therefore, with the same £5 per ¥0.010 stake:
Profit or Loss = (settlement price of the market – initial price of the market) x stake per ¥0.010
Profit or Loss = (¥136.777 – ¥137.085) x £5 per ¥0.010 stake
Profit or Loss = -¥0.308 x £5 per ¥0.010
Profit or Loss = -£154.00 loss
Selling – Speculating on the Market to Decrease
A major advantage of placing a spread bet is that you can go short of the markets.To start with, the market was priced at ¥137.069 – ¥137.085.
If you went short of EURJPY at ¥137.069 and the FX pair fell then you might see the price move to ¥136.762 – ¥136.778. If this were the case, you might decide to close your trade for a profit by buying at ¥136.778.
Profit or Loss = (initial price of the market – settlement price of the market) x stake per ¥0.010
Profit or Loss = (¥137.069 – ¥136.778) x £5 per ¥0.010 stake
Profit or Loss = ¥0.291 x £5 per ¥0.010
Profit or Loss = £145.50 profit
Conversely, if the FX pair had risen to ¥137.315 – ¥137.331, you may want to close your position to limit your losses. In that case, you would buy the market at ¥137.331.
With the same £5 per ¥0.010 stake:
Profit or Loss = (initial price of the market – settlement price of the market) x stake per ¥0.010
Profit or Loss = (¥137.069 – ¥137.331) x £5 per ¥0.010 stake
Profit or Loss = -¥0.262 x £5 per ¥0.010
Profit or Loss = -£131.00 loss
EURJPY Rolling Daily prices accurate as of 7-Oct-15.
Please note that this is a ‘Rolling Daily’ trade. Such markets do not have a preset expiry date and rolls over to the next trading day automatically. If it does roll, then you may receive a small credit or be charged a small overnight financing fee. For more details see guide to rolling daily fees.
EURJPY Test Accounts
What if you want to try things out? The following platforms provide test accounts. I.e. accounts where you can have a go at trading EURJPY without risking any capital.
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.