EUR/JPY

EUR/JPY — The Euro-Yen Cross

EUR/JPY is one of the most actively traded crosses, combining the Eurozone — the world's largest currency union — with Japan's yen. The pair captures sentiment on global risk appetite: when investors seek safety they often sell EUR/JPY (buying yen), and when optimism returns they buy it.

The cross is heavily influenced by the Bank of Japan's ultra-loose policy stance relative to the ECB. Japan's near-zero interest-rate environment for two decades made yen-funded carry trades a major structural force on this pair.

European trading sessions drive the most volume. Tokyo hours see thinner liquidity, which can produce sharper intraday moves on Japanese economic releases.

Rates here are indicative mid-market from aggregated market data and public reference rates (ECB/FRED). Not for settlement.

Frequently asked questions

What drives EUR/JPY more than any other factor?

The interest-rate gap between ECB policy and Bank of Japan policy is the dominant structural driver. A widening gap (ECB hiking, BoJ holding) pushes EUR/JPY higher as carry flows favor the euro.

Why does EUR/JPY move so much during risk-off events?

The yen is a traditional safe-haven currency. When equity markets fall sharply or geopolitical stress rises, investors unwind carry trades and buy yen, causing EUR/JPY to drop even when the stress originates outside Europe or Japan.

What does a 1-pip move mean on EUR/JPY?

EUR/JPY is quoted to two decimal places. One pip = 0.01 yen per euro. On a standard 100,000-unit lot that equals roughly $6.30 depending on the USD/JPY rate.

Does Japan's trade data affect EUR/JPY?

Yes, especially when Japan runs a large trade surplus with the EU. Large export receipts repatriated into yen tend to strengthen JPY (lower EUR/JPY). In deficit periods the pressure reverses.

Is EUR/JPY traded on Japanese retail FX platforms?

Yes, it is one of the most popular pairs among Japanese retail FX traders, second only to USD/JPY. Domestic demand for the pair adds a visible Tokyo-session liquidity layer.

How accurate is the ECB reference rate for EUR/JPY?

The ECB publishes a daily euro reference rate against JPY, fixed at 14:15 CET each business day. It is accurate as a daily benchmark but is a single snapshot — intraday and weekend moves that occur after the fix are not captured until the following business day's publication. Aggregated live data updates approximately every 60 seconds and fills that gap.

What is a typical EUR/JPY carry trade?

A carry trader borrows in JPY (low rate) and invests in higher-yielding euro assets, then converts the return back to yen to repay the loan. The profit is the rate differential minus any adverse FX movement.

Can I fetch EUR/JPY history back to 1999?

Yes via the /v1/range endpoint. ECB data extends to 1999-01-04 and provides daily JPY reference rates against the euro throughout that period.