Blue = Spot Market Rate.

Orange = Exchange Rate Index.

2009 – 2010. Discontinued in 2010 as Exchange Rate indices update every 5 years.

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2022 – 2023. Note the massive BOJ adjustment.

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The overall difference is seen since the BOJ totally revamped the exchange and interest rate and economic system in 2015. And YCC introduction.

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The BOJ today prefers the spot rate and exchange rate index to share about a 5 point difference.. Trading days of 2009 and 2010, USD/JPY moved 2 and 400 pips regularly on any given trade day. Those were days of true volatility

Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.

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