SEK/JPY Chart – Swedish Krona to Japanese Yen

A pair of Swedish krona and the Japanese yen on Forex

The Swedish krona (SEK) appears to be a commodity currency, but is more dependent on its neighbors, Norway and Denmark. All Scandinavian currencies have a high degree of correlation. Therefore, during trading, it is necessary to monitor the level of oil prices, trends in relation to other currencies, only then it will be possible to get a complete picture.

Since yen is a freely convertible currency, its market rate depends on supply and demand. According to economists, Japanese currency accounts for about 12% of the total turnover. The main actions in Japanese currency occur during the Asian trading session. It should be noted that, unlike the standard quotation, 0.0001 (four-digit) and 0.00001 (five-digit), quotes with the Japanese yen are always two characters less.

The SEK/JPY pair is considered exotic, it is quite volatile, and can attract experienced traders who are used to trading the Japanese yen. Many organizations of the world cooperate with Japanese companies, for this they acquire the country’s national currency in order to buy goods, so the yen will always be popular.

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