Trade EUR/JPY, the euro–yen cross
EUR/JPY prices how many Japanese yen one euro buys. It is the most traded yen cross and a popular gauge of global risk appetite: it tends to rise when markets are confident and fall when investors seek safety in the yen.
- 24/5 trading
- Buy or sell
- Regulated by FSC Mauritius
EUR/JPY
Spreads from, pips · Premium
1.0
About EUR/JPY
Euro vs Japanese yen
EUR/JPY brings together the world's second most traded currency and Asia's main safe haven. Its trend is shaped by the policy gap between the ECB and the Bank of Japan, and by how willing investors are to borrow in low-yielding yen to invest elsewhere.
It is usually a little calmer than GBP/JPY but still moves more than EUR/USD. Because it trades actively in both Tokyo and London, it offers opportunities from the Asian morning through the European afternoon.
- MT5 symbol
- EURJPY
- Known as
- Yuppy
- Pip size
- 0.01
- Trading hours
- 24/5
- Central banks
- ECB and Bank of Japan
- Pip value (1 lot)
- ¥1,000 per standard lot (about $6.67 at USD/JPY 150.00)
- Character
- Risk-sentiment barometer
What moves it
4 forces that drive EUR/JPY
ECB vs BoJ
The expected rate gap between the euro area and Japan steers the longer-term trend.
Risk appetite
Firm stock markets tend to support EUR/JPY; risk-off moves tend to strengthen the yen.
Euro-area data
Inflation, PMIs and German indicators move the euro side.
Japanese policy and intervention
BoJ decisions and any yen-buying by Japan's Ministry of Finance can move all yen pairs sharply.
When to trade
Best hours and key releases for EUR/JPY
Most active: The Tokyo session, the Tokyo–London handover (about 07:00–09:00 GMT) and the London session.
| Session | GMT | UAE time |
|---|---|---|
| Sydney | 21:00–06:00 | 01:00–10:00 |
| TokyoActive | 00:00–09:00 | 04:00–13:00 |
| LondonActive | 07:00–16:00 | 11:00–20:00 |
| New York | 12:00–21:00 | 16:00–01:00 |
Releases that move EUR/JPY
- ECB rate decisionEight times a year.
- BoJ policy decisionEight times a year.
- Euro-area flash HICPMonthly.
- Tokyo CPIMonthly.
- Euro-area PMIsMonthly.
Spreads can widen and prices can gap around these releases. Check an economic calendar for exact dates and times.
Pricing
EUR/JPY spreads by account
Choose the account that fits your trading. The live EUR/JPY spread is always shown in MT5 before you place an order.
Classic
Spread-only, no commission
Spreads from
1.6 pips
- Commission
- None
- Min. deposit
- $100
Premium
Lower spreads, no commission
Spreads from
1.0 pips
- Commission
- None
- Min. deposit
- $3,000
VIP
Raw spreads plus commission
Spreads from
0.0 pips
- Commission
- $6 per 1.00 lot round turn, proportional to lot size
- Min. deposit
- $25,000
* Indicative typical spreads, may vary; last updated 28 September 2026. Spreads are variable and may widen during news releases and low-liquidity sessions. Commissions may apply depending on account type.
Leverage magnifies both gains and losses. Maximum leverage depends on the instrument, account type and your jurisdiction.
Get started
How to trade EUR/JPY on MT5
- 1
Open an account
Register online, verify your identity and choose Classic, Premium or VIP. - 2
Fund your account
Deposit with one of the available methods in the client portal. - 3
Find EURJPY in MT5
Log in to MetaTrader 5, open Market Watch and add EURJPY to see the live price and spread. - 4
Plan and place the trade
Set your position size and stop-loss, then choose Buy if you expect the pair to rise or Sell if you expect it to fall.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Forex prices, including EUR/JPY, can move quickly against you, especially around news releases.
FAQ
Frequently asked questions
What is the spread on EUR/JPY at IST Markets?
Spreads on IST Markets accounts start from 1.6 pips on Classic, 1.0 pips on Premium and 0.0 pips plus commission on VIP. The spread on EUR/JPY is variable and depends on market conditions; the live spread is always shown in MT5 before you trade. Cross pairs usually have wider spreads than the majors.
What is the pip value of EUR/JPY?
One pip on EUR/JPY is a price move of 0.01. On one standard lot it is worth ¥1,000 per standard lot (about $6.67 at USD/JPY 150.00); a mini lot (0.10) is worth a tenth of that and a micro lot (0.01) a hundredth. Use the free pip calculator to work it out for your trade size.
What is the best time to trade EUR/JPY?
The pair trades 24 hours a day, Monday to Friday. It is usually most active during The Tokyo session, the Tokyo–London handover (about 07:00–09:00 GMT) and the London session. Liquidity tends to be thinnest around the daily rollover and late on Fridays, when spreads can widen.
Why is EUR/JPY seen as a risk barometer?
The yen tends to strengthen when investors reduce risk, while the euro is a growth-linked currency. So EUR/JPY often falls in market stress and rises when confidence returns.
What is the difference between EUR/JPY and GBP/JPY?
Both share the yen side, but EUR/JPY is usually more liquid and a little less volatile. GBP/JPY reacts more to UK-specific news and tends to have wider daily ranges.
Ready to trade EUR/JPY on MT5?
Register in about 5 minutes; account verification may take longer.