Covering a trade analysis on Yen Futures. This particular set up was a swing trade being established on Yen futures. As opposed to Forex trading and using Yen pairs to trade I prefer the actual Yen currency futures. One reason being the marin costs to trade this is extremely low and I don't have to pay rollover costs which are associated with Forex trading. Secondly, I prefer to swing trade the yen with small size because of the tick value, a missed trade can lead to larger than wanted losses so with smaller size I tend to go for larger targets. On the flip side, I will trade larger lots at key price levels and 'scalp' from the level as well.
Yen Trading Hours:
Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday - closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT.
Broker: Think or Swim | Cannon Futures
Minimum price fluctuations shall be in multiples of $.000001 per Japanese yen, equivalent to $12.50 per contract. Trades may also occur in multiples of $.0000005 per Japanese yen, commonly referred to as one-half tick, for Japanese yen futures intra-currency spreads, executed as simultaneous transactions on the trading floor pursuant to Rule 542.A. and on GLOBEX® pursuant to Rule 542.F.; and for Japanese yen futures All–Or–None (AON) transactions executed pursuant to section "All–Or–None Transactions" of Rule 521.
To learn more about futures trading you can use the student resource center or attend a Trading 101 Workshop near you.