Could not create these using IG. I also was thinking maybe using some advanced method of synthetic trading adding more currencies but not sure on how to do that. Any help would be appreciated.
In practice that’s probably close enough, though its never an exact match. It looks to me like JPY is very rarely used as a base currency in forex, though I have seen charts for JPY/SGD, JPY/TRY and JPY/ZAR, so if you can’t short where JPY is the counter currency but want to be long JPY, your options are limited. Of course, if you trade 2 pairs to get the desired result your costs and risk will be that much higher.
The question is though,why would you want to be long JPY?
I’m experimenting with options and nadex spreads and would like a complete reversal of the gbp/jpy currency pair. The only way I can think of is to create a synthetic pair. It looks like its working but I’m confused on how many lots to buy/sell in order to synchronize the two pairs. Please let me know if you have any ideas on that.