USD/JPY: Product Description
About USD/JPY
USD/JPY (US dollar versus Japanese yen) is the second most traded currency pair in the world. Although over the last three years (between 2004 and 2007), the turnover share of the yen, as well as the turnover share of the dollar in the global foreign exchange market has slightly decreased, the pair is still among the top traded pairs in the FX market. This decrease can be attributed in part to valuation effects induced by a depreciation of these currencies over the last three years. Whereas the dollar is the most traded currency, followed by the euro, the yen comes in the third place.
The average share of the dollar-yen (recorded on a daily basis in April 2007) represents 13% of the FX market global turnover *, a 4% drop from 2004.
Although emerging markets currencies are slowly gaining ground in the global markets, they are still far from the dollar, the euro, the yen and the pound sterling. The share of the US dollar in the FX market turnover decreased from approximately 90% in 2001, to 88.5% in 2004 and 86.3% in 2007 (on a 200% total) whereas the share of JPY fell from 22.7% to 20.3% and 16.5% (on a 200% total) over the same period.
Share of USD/JPY in the global FX market turnover:
- 2001: 20%
- 2004: 17%
- 2007: 13%
This decrease over the past six years is actually quite dramatic and reflects the general trend of main currencies versus those of development countries and emerging markets.
USD/JPY Rate/price
You may view the USD/JPY quote in Finotec’s Real Time Forex Quotes Table (the table is displayed on each page of our site) or by logging into the Trading Platform.
USD/JPY Trade Specifications
| Product symbol | USD/JPY |
|---|---|
| Type | Forex |
| Rate example | 114.11 |
| Spread | 3-10 pips |
| Leverage | 100:1 – 33:1 |
| Size of 1 lot | USD 100,000 |
| Min transaction size | 50,000 |
| Max transaction size | 1,000,000 |
| Pip value (for a standard lot) | JPY 1000 |
| Starts (GMT) | Sunday night 24:00 |
| Ends (GMT) | Friday night 21:00 |
* Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in April 2007 – Preliminary global results, Bank for International Settlements, September 2007
