JPYX index like USDX index..

Hi,
there is already a USDX index indicator, which demostrates the movement of USD accross the board (depending on how many pairs are being taken into account).
Does anyone have any idea, if there is also such indicator for JPY ?

The main point in this question is, how to weight all the JPY crosses.

Thanks,
Endy

This should be simple, although probably not 100% accurate.

You normalize all the currencies by average volume and average price, and then weight each currency based on those totals.

So, for example...the EUR/JPY component = (EMA(20) * Average Volume(20)) / sum(all EMAs * all Average Volumes). That should give you the % component of the EUR/JPY.

This is some rough math, so don't take my complete word on that...but in theory, you'd have a pretty accurate.

Hi,
I appreciate your input a lot.
At least someone has responded with some input.
Anyway, I have to give it some thoughts on what you adviced, probably that's the way to go.
However, in case of USD sentiment indicator, it takes much more. They even calculate some fundamental reasons to put more weight to EURUSD pair. In fact, that pair has the biggiest influence, when calculating USDX index. That's why I was currious if someone speculateted about the jen pairs.
Thanks and regards,
Endy

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