Trading JPY/NOK
As two of the world’s most stable currencies, the JPY/NOK exchange rate may provide a safe haven for traders during times of market turbulence. Volatility in the pair also leaves room to potentially make a profit when converting JPY to NOK.
This guide will break down reasons to trade the pair, influences on price movement, using a JPY vs NOK chart, and popular forex principles.
No brokers offer trading on JPY/NOK based on our tests, but the platforms listed offer a range of currency pairs.
Best Forex Brokers
Here is a short summary of why we think each broker belongs in this top list:
- NinjaTrader - NinjaTraders supports the trading of popular currencies including the EUR/USD. The software also offers advanced features to streamline the trading experience, including complex order types like market if touched (MIT) and one cancels other (OCO).
- Interactive Brokers - IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders.
- Plus500 US - Plus500 US offers futures trading on a small selection of 13 currencies, including popular pairs like the EUR/USD and GBP/USD. Day trading margins are competitive, starting from $40, while the educational resources do an excellent job of breaking down the basics of forex futures for new traders.
- FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
- OANDA US - OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types.
- Videforex - Videforex offers trading on a growing range of over 40 currency pairs through leveraged CFDs with spreads from 0.1 pips. Alternatively, traders can use binaries to speculate on upward/downward price movements with payouts up to 98%. Integrated technical analysis, economic calendars, and market news, all available within the platform, help support FX trading decisions. Videforex added fresh exotics in 2025 like THB and MXN for diverse trading opportunities.
Trading JPY/NOK Comparison
| Broker | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit | Regulator |
|---|---|---|---|---|---|
| NinjaTrader | 50+ | 1.3 | / 5 | $0 | NFA, CFTC |
| Interactive Brokers | 100+ | 0.08-0.20 bps x trade value | / 5 | $0 | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Plus500 US | 13 | 0.75 | / 5 | $100 | CFTC, NFA |
| FOREX.com | 80+ | 1.2 | / 5 | $100 | NFA, CFTC |
| OANDA US | 65+ | 1.6 | / 5 | $0 | NFA, CFTC |
| Videforex | 40+ | 0.1 | / 5 | $250 | - |
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
| GBPUSD Spread | 1.6 |
|---|---|
| EURUSD Spread | 1.3 |
| EURGBP Spread | 1.6 |
| Total Assets | 50+ |
| Leverage | 1:50 |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Account Currencies | USD |
Pros
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
- Traders can get free platform access and trade simulation capabilities in the unlimited demo
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
Cons
- The premium platform tools come with an extra charge
- There is a withdrawal fee on some funding methods
- Non forex and futures trading requires signing up with partner brokers
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| GBPUSD Spread | 0.08-0.20 bps x trade value |
|---|---|
| EURUSD Spread | 0.08-0.20 bps x trade value |
| EURGBP Spread | 0.08-0.20 bps x trade value |
| Total Assets | 100+ |
| Leverage | 1:50 |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
Cons
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
Plus500 US
"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills. Its powerful tools and reliable service helped it scoop second place in DayTrading.com's annual 'Best US Broker' award."
Michael MacKenzie, Reviewer
Plus500 US Quick Facts
| Bonus Offer | Welcome Deposit Bonus up to $200 |
|---|---|
| EURUSD Spread | 0.75 |
| Total Assets | 13 |
| Platforms | WebTrader, App |
| Account Currencies | USD |
Pros
- Plus500 US excels for its low fees with very competitive day trading margins and no inactivity fees, live data fees, routing fees, or platform fees
- The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader
- The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
Cons
- Despite competitive pricing, Plus500 US lacks a discount program for high-volume day traders, a scheme found at brokers like Interactive Brokers
- The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
- Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| GBPUSD Spread | 1.3 |
| EURUSD Spread | 1.2 |
| EURGBP Spread | 1.4 |
| Total Assets | 80+ |
| Leverage | 1:50 |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
Cons
- There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
OANDA US Quick Facts
| GBPUSD Spread | 3.4 |
|---|---|
| EURUSD Spread | 1.6 |
| EURGBP Spread | 1.7 |
| Total Assets | 65+ |
| Leverage | 1:50 |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC
- Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
- There's a strong selection of 68 currency pairs for dedicated short-term forex traders
Cons
- It's a shame that customer support is not available on weekends
- The range of day trading markets is limited to forex and cryptos only
- There's only a small range of payment methods available, with no e-wallets supported
Videforex
"Videforex will serve traders looking for a no-frills, easy-to-use platform to speculate on the direction of popular financial markets through binaries. With a sign-up process that takes a matter of minutes and a web-accessible platform, getting started is a breeze. "
Videforex Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| GBPUSD Spread | 0.1 |
| EURUSD Spread | 0.1 |
| EURGBP Spread | 0.1 |
| Total Assets | 40+ |
| Leverage | 1:500 |
| Platforms | TradingView |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
- With the addition of over 60 new assets, Videforex now gives traders access to in-demand crypto (TON, ARB, PEPE, SHIB), top-performing tech stocks (Tesla, Meta, Nvidia, Amazon), and a more diverse FX portfolio (THB, ZAR, and MXN).
Cons
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
Chart
Breaking Down JPY/NOK
Firstly, what does the JPY/NOK mean? It is simply the forex quote for the Japanese yen vs Norwegian krone exchange rate. The yen is the base currency, whilst the krone is the counter currency.
Pros Of Trading JPY/NOK
- Safe haven – The JPY is a safe haven currency. This means it is expected to retain or increase in value during times of market volatility. Investing in safe havens can limit your exposure to losses in the event of market downturns.
- Volatility – The JPY can experience volatility when trading to NOK, especially during risk-on / risk-off environments. This, coupled with the secure seen in the JPY, can make investing in the pair an attractive choice for traders.
- Oil prices – Changes in global oil prices can affect the JPY/NOK rate as Japan imports 99% of its oil. Tracking oil prices, therefore, can make the currency pair more straightforward to follow.
- Availability of resources – There is an abundance of publicly available economic and government data for both the JPY and NOK. Technical analysis today is also easier than ever before. This is because you can analyse graphs and candlestick charts with customised indicators and sophisticated investing tools.
Influences On Movement
Several factors can influence the JPY to NOK exchange rate. Being aware of these can help you to make forecasts as to which direction the pair is likely to move and by how many pips. This will help you maximise the value of trades.
Economic Influence
As with all currencies, economic triggers can cause fluctuations in the value of the JPY/NOK pair.
Norway is one of Europe’s most stable economies. Its economy is well-developed and has shown vigorous growth since the beginning of the industrial period. Japan has a strong industrial base and is home to some of the largest and most technologically advanced producers of motor vehicles, electronics, machinery, steel and nonferrous metals, ships, chemicals, textiles, and processed foods. Both economies are relatively strong, but any instability in either country may affect the value of 1 JPY into NOK.
The Euro
Currency investors may seek out the NOK when the Euro’s (EUR) value is in doubt. As a result, following appetite in the Euro can prove a useful way to get the inside track on which direction the JPY/NOK will move. Many of the best forex trading platforms offer a wealth of data on the Euro and leading currencies.
Oil Prices
Norway is Western Europe’s leading oil exporter. Japan is also the fourth largest importer of crude oil and the second biggest importer of natural gas. The country relies on these importations to satisfy domestic energy requirements. This means changes in the global price of crude oil will affect NOK to JPY forecasts.
Government Intervention
The Japanese government is implementing a range of economic initiatives to strengthen the economy.
The Bank of Japan’s huge easing program has driven significant weakness in the Japanese yen recently, but any sudden global headwinds, along with further instability in the Eurozone, could see traders moving to safe haven currencies. This will drive the JPY/NOK rate lower.
As a result, day traders need to keep an eye on Bank of Japan (BoJ) interest rates and government announcements, as these will influence the value of the FX pair.
Technical Analysis
Day traders looking to make a profit from the NOK to JPY rate may need to use a range of charts and converters to make an accurate forecast. You can also use them to measure the pip value for the pair.
A JPY into NOK chart will allow you to observe historical trends and other common exchange rate patterns. These can all help predict future exchange rate moves. MT4, for example, offers user-friendly graphs with a host of drawing tools and overlays.
Using a currency converter ahead of your trade will give you the live value of the JPY to NOK rate, so you can project the value of the trade. A top forex provider, such as TradingView, offers excellent tools such as live exchange rate charts, historical data and real-time quotes.
Trading Principles
When trading JPY to NOK, you will need to develop a good strategy to build into your investing plan. This will significantly increase your chances of success when trading forex.
The popular principles below are common day trading tactics to help you become a successful forex trader.
- Keep up to date with JPY/NOK news – The value of the JPY/NOK rate will change depending on government announcements, decisions on monetary policy, oil prices and more. Keeping up to date with the latest news will enable you to make more accurate projections when trading the JPY/NOK.
- Set aside funds – Look at how much capital you’re willing to risk on each trade and set your pip value accordingly.
- Make time – Day trading takes time. You need time to track the global forex markets and spot opportunities to place your trades at the right moment.
- Start small – Start with small amounts to test out your strategy. This is especially true if you are trading a new currency pair for the first time. Starting small allows you to see what does, and doesn’t work, without risking too much on a first attempt.
- Use limit orders – Set stop losses to help manage your JPY/NOK trades. If the currency pair dips below a certain point, stop losses will automatically exit your trade, meaning you won’t lose too much.
- Stay calm – Forex markets can test your nerves. It’s important to not let emotions get in the way of your strategy. Decisions should be made using logic only.
- Stick to your trading strategy – Developing a strategy in advance is important to make forex trading successful. Having a strategy will help give you a plan and parameters that you can stick to.
Bottom Line
The JPY/NOK forex pair could be a good option for traders looking to invest in a safe haven. While not traded in the significant volumes seen with major FX pairs, trading the NOK to JPY rate still leaves plenty of room to implement trading strategies.
It’s important to stay on top of the JPY to NOK news, the latest government announcements, economic developments and global oil prices.
Use a top forex broker to assess historical trends and predict future price movements.
FAQ
Why has JPY/NOK been so weak?
The low nominal value of the Japanese yen is a result of World War II. Wartime spending led to massive inflation. At the end of the war, the Japanese yen was valued at 360 yen to 1 US dollar (USD). The strength of a currency is measured not by its change over time but by its nominal value.
Why is the JPY a safe haven?
There are multiple arguments as to why the JPY is a safe haven. Most notably, Japan has a positive net foreign asset position. The Japanese yen also has zero to negative interest rates, making it common for borrowing. When there’s a crisis, people sell their assets and borrow less.
Is JPY/NOK a top currency pair to trade?
Both the JPY and NOK are among leading currencies to buy and sell. The United States Dollar (USD), European Euro (EUR), Swiss Franc (CHF) and Swedish Krona (SEK) are also forecast as popular currencies for online trading.
What time does the forex market move the most?
The most favourable time to trade forex is 08:00 to 12:00. This is when the New York and London forex markets overlap. These two trading centres account for more than 50% of all forex trades.