EUR/JPY: live price, payout and trading hours

EUR/JPY tells you how many Japanese yen one euro buys: 160.000 means 1 EUR = 160 JPY. Like every yen pair it uses a pip of 0.01, so it is quoted with three decimals in the terminal. This is a cross pair: neither side is the US dollar, and its price effectively follows from EUR/USD and USD/JPY. That has a practical consequence — US data can move EUR/JPY even though no dollar appears in its name, because a release pushes the two underlying pairs by different amounts.

The pair brings together two central banks with very different histories. The ECB sets policy for the euro area, while the Bank of Japan spent years with rates at or below zero, so the yield gap between European and Japanese bonds is a central driver. EUR/JPY is also a popular barometer of risk appetite: it tends to rise when European stock markets are confident and to drop when investors seek the yen's safety. Scheduled events to watch are ECB and BoJ decisions, euro-area inflation and PMIs, and Japanese inflation data.

Activity starts in Tokyo, builds strongly at the London open and stays healthy into the European afternoon. The late US session is usually the quietest stretch.

On Sky Trade you will also find EUR/JPY OTC, a separate series that the server generates 24/7 — it has no connection to the real euro-yen rate or the central banks behind it.