Learning Currency Trading – Part 7: EUR/JPY

Introduction:

The symbol EUR/JPY stands for Euro/Japanese Yen. It tells the reader about the number of Japanese Yen that is needed to buy one Euro. In the EUR/JPY currency pair, EUR is the base currency while JPY is the counter currency.

EUR/JPY is one of the most heavily traded currency pairs. However, many forex traders find this pair to be highly volatile with a very large loss risk associated with its exchange. Depending on the market conditions, this particular exchange could either help the trader earn big profits overnight or cause him great losses.

General facts and importance:

Japan and the EU are two successful giants in the global market. With Japanese Yen serving as a proxy currency for Asia and EUR being the representative of the entire Euro zone, the significance of the currency pair can hardly be undermined.
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