The USD/JPY rate tracks the price of the US dollar, the base currency, against the Japanese yen, the counter currency. It is one of the major FX currencies. Monetary policy announcements of both the US Federal Reserve and the Bank of Japan will have an influence on this currency pair as well as the respective country's interest rates.
Spot or forward? These two forex markets behave differently, and now you can trade both with us as forex CFDs. Here’s how they work, and what sets them apart.