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country currency pairs eurjpy

Euro vs Japanese Yen

Euro vs Japanese Yen (EURJPY)

The EURJPY currency pair represents the exchange rate between the Euro EUR and the Japanese Yen JPY. This pair is a popular choice among forex traders due to the significant economic influence of both the Eurozone and Japan.

-.-- -.--%
Annual change
-.--%
All time High / Low
109.489 / 175.426
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
162.833
High
163.162

EURJPY Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: 3.56
  • Swap Short: -28.21
  • Margin Group: FX Majors
  • Margin Currency: EUR
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of EURJPY

The history of the EURJPY currency pair dates back to the adoption of the Euro EUR as the official currency of the Eurozone in 1999. Prior to that, the individual European countries had their own national currencies. The Japanese Yen JPY has been a stable and influential currency in the global forex market for many years. Since the inception of the EURJPY pair, it has witnessed significant fluctuations influenced by economic events, central bank policies, and global geopolitical developments. This pair often reflects the economic health of both the Eurozone and Japan, making it a key barometer for traders and investors seeking exposure to these economies. Over the years, the EURJPY has provided opportunities for traders to profit from exchange rate movements and diversify their portfolios.

currency pair eurjpy

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Frequently Asked Questions

EURJPY is a currency symbol that represents the exchange rate between the Euro EUR and the Japanese Yen JPY. It indicates how many Japanese Yen are needed to buy one Euro. The exchange rate is determined by the interplay of supply and demand in the Forex market. A higher EURJPY rate means that the Euro is stronger compared to the Japanese Yen and vice versa. Forex traders monitor the EURJPY pair to identify trading opportunities and make informed decisions based on economic indicators, market sentiment, and geopolitical factors.

To trade the EURJPY pair, you would need to open an account. Once you have an account, you can access the platform and search for the EURJPY symbol. You will then be able to place trades on the pair, either buying (going long) if you believe the Euro will strengthen against the Japanese Yen, or selling (going short) if you expect the Euro to weaken against the Yen. Traders often use technical analysis, fundamental analysis, and risk management strategies to make informed trading decisions. It is important to stay updated with economic events and news that can impact the EURJPY pair, as volatility and market trends can change rapidly.

The trading hours for EURJPY can be found here

There are several popular trading strategies that traders employ when trading the EURJPY pair. One common strategy is trend following, where traders identify and follow trends in the market, either buying or selling depending on the direction of the trend. Another strategy is range trading, where traders aim to profit from price fluctuations within a specific range by buying at support levels and selling at resistance levels. Breakout trading is another popular strategy, which involves entering a trade when the price breaks through a significant support or resistance level. Additionally, traders may use technical indicators like moving averages, RSI, or MACD to identify entry and exit points. It’s important for traders to test and adapt different strategies to find what works best for them and to also consider incorporating risk management techniques to protect their capital.

When trading the EURJPY pair, it’s important to consider factors such as economic data releases, central bank policies, geopolitical events, technical analysis, and market sentiment. Economic data can impact currency values, while central bank actions and policies can influence interest rates and exchange rates. Geopolitical events can create uncertainty and affect currency values. Technical analysis helps identify trends and support/resistance levels. Additionally, market sentiment towards the Euro and the Yen can impact their respective exchange rate. Considering these factors can help you make more informed decisions when trading the EURJPY pair.