About ForexCent
Bonus page
Contest page
Contest top
Contest top last
Forex CFD
Forex VPS
Free margin
Islamic account
Live Forex Account
Margin Call
Margin level
Micro Forex
Mini Forex
News page
Real Forex Account
Start Bonus
Stop Out level
Swap Free
Terms of information use
Trading equity
Users review page

Trading symbol SEKJPY

Forex Symbol «Sweden Kronor vs Japanese Yen» or «SEKJPY»

SEK/JPY is not a very popular currency pair at the Forex market. SEKJPY is the cross rate against the U.S. dollar. Although the U.S. Dollar obviously is not present at this currency pair, it still has a significant influence on it. This can be seen, if you combine two charts: USDJPY USDSEK. By combining these two charts in the same price chart, you can get an approximate SEKJPY chart.

The U.S. dollar has a significant influence on both currencies. For this reason it is necessary to take into account the major U.S. economic indicators for the correct prediction of a future course of this financial instrument. These indicators include: the discount rate, GDP, unemployment, new created workplaces indicator and many others. Is necessary to note that discussed currencies could respond with different speed on changes in the U.S. economy, therefore, SEKJPY currency pair may be a specific indicator of change at these currencies.

Sweden is one of the leading economic countries in the world, which is far ahead of its nearest neighbors: Denmark, Norway and Finland. Sweden was able to achieve such high economic performance, due to the presence on its territory the rich minerals, as well as high levels of skills of its citizens working in the country. The country is rich in deposits of large amounts of iron ore and nonferrous metals. In addition, Sweden has large resources of timber, and large hydropower resources.

Sweden is the largest manufacturer of engineering products, as well as the largest supplier of iron ore, steel and paper. The greater part of Sweden's production goes to foreign markets, where it successfully sold. However, it is at the same time a Swedish economy is heavily dependent on the volume of exports, whose decline can severely weaken the economy. It is worth noting that Sweden is heavily dependent on world prices of major energy resources - oil and gas, for this reason, significant increases in prices for these energy sources, the Swedish economy may experience some problems that affect the value of the Swedish krona.

Currency pair SEKJPY is very susceptible to a variety of major political and economic developments taking place in the world. For this reason, the price chart for this currency pair is poorly predictable, and often goes in the opposite direction relative to any analysis.

It is not recommended for beginning traders to starting their trading activity at the currency market with a given currency pair. For successful trading with this financial instrument you need to know a lot of nuances of price chart behavior that can greatly affect the future course rate.

This trading instrument is relatively illiquid if we’ll compare it with major currency pairs, such as: EURUSD, USDCHF, GBPUSD and USDJPY. Therefore, when you make a prognosis for the financial instrument, you should primarily focus on those currency pairs that include a U.S. dollar in tandem with each of the considered currencies.

If you trade cross rates, it is necessary to remember that brokers are usually set a higher spread than the more popular currency pairs, so before you start working with the cross-rates, it should be carefully acquainted with the conditions offered by the broker to trade with specified trade instrument.

Incoming search terms:
sekjpy, SEKJPY chart, seijpy, forex sekjpy, analysis forex sekjpy,