The JPYBasket ("Yen Index") is a Japanese Yen benchmark and is designed to reflect the change in value of the JPY against a basket of major world currencies. The Index was developed by FXCM.
The JPYBasket began on January 2, 2019, with a rate of 10,000.
It represents an equivalent ¥200,000 position in each of the currencies that make up its components for a total starting value of ¥1,000,000 .
It rises when the Yen strengthens against the US Dollar, Euro, the British Pound, Canadian Dollar and the Australian Dollar and falls as the Yen weakens compared to these currencies.
In order for the Index to have a starting value of 10.000, the JPY basket uses divisor of 100.
For example, if you Buy 1 contract and subsequently the Yen strengthens and the Index rate increases from 10,100 to 10,101, you will earn exactly 100JPY for every point change (or equivalent value in your account denomination).