Trade Silver vs Yen - &XAGJPY
Personal composite instrument called «&XAGJPY» reflects the price dynamics of silver against the Japanese yen. The base part of this instrument is composed of 1 ounce of silver, and the quoted part – 100 Japanese yen. The asset percentage content of the instrument is estimated based on the asset prices on the PCI creation date.
The trading instrument &XAGJPY is used for the analysis and trade of silver quoted against one of the major Asian currencies - the Japanese yen. The turnover of precious metals, including silver as an asset used for savings accumulation as well as for industrial applications, is important for economies of Asian countries.
To trade PCI instruments offered exclusively by IFC Markets, you need to open a free account and download the NetTradeX platform.
Please, choose the section:
|Structure:||PCI Components and their volume|
|Parameters:||PCI main trading conditions|
|Trading Hours:||PCI active trading hours|
|Application Field:||How can PCI be applied in trading?|
|&XAGJPY||№||Asset||Volume / 1 PCI||Percentage||Volume (USD) / 1 PCI||Unit of measurеment|
- The volume to calculate Swap and 1 pip value
- The size of 1 pip
- Margin in USD for the volume and leverage of 1:100
- 0.36 USD
|Swap (long/short) in pips on Vol||-0.111 / -0.134||-0.111 / -0.134||-0.111 / -0.134|
|>=554.77||5.55 – 5000.00||>=5.55|
|The value of 1 pip in USD for the Vol||0.0088||0.0088||0.0088|
|Week day||Trading hours (CET)||Local trading hours|
|Monday||00:00 — 24:00||00:00 — 24:00|
|Tuesday||00:00 — 23:00||00:00 — 23:00|
|Wednesday||00:00 — 23:00||00:00 — 23:00|
|Thursday||00:00 — 23:00||00:00 — 23:00|
|Friday||00:00 — 22:00, 00:00 — 23:00||00:00 — 22:00, 00:00 — 23:00|
The personal composite trading instrument &XAGJPY is used for trade and dynamics analysis of silver against the Japanese yen, as well as for multi-year comparative analysis with the popular instrument XAGUSD. For example, by building a percentage chart for two instruments &XAGJPY и XAGUSD ( Fig. 1) in the NetTradeX terminal, it is evident that in the last 2-year period (since April 2013) the fluctuation dynamics of silver against the JPY was almost identical to that of silver against the USD, while in the last year the silver against JPY decline in percentage terms was substantially smaller than the decline in silver against the USD.
Traders, whose main assets and investments are denominated in Japanese yen, will be comfortable trading this PCI.