EUR/JPY price today

The euro to yen (EUR/JPY) price shows how many Japanese yen one euro is worth. This symbol is the most traded yen cross pair and puts two currencies with very different roles side by side: the euro, the world's second most traded currency, and the yen, which is considered a safe haven in times of crisis. That is why many traders treat EUR/JPY as a thermometer of the market's "risk sentiment". On this page you can see the live EUR/JPY rate, its candlestick chart and technical events, and further down you will learn about the factors that move it, pip calculation in yen pairs, trading hours in Tehran time and risk tips.

What is the EUR/JPY pair?

In EUR/JPY, the euro is the base currency and the yen is the quote currency; for example, 160.00 means one euro is worth 160 yen. A rising number means the euro has strengthened against the yen, and a falling number means the yen has become stronger. Like all yen pairs, the rate is shown with two decimal places (and three on most platforms).

EUR/JPY is a cross and the US dollar is not directly involved, but mathematically it is roughly equal to the product of euro to dollar (EUR/USD) and dollar to yen (USD/JPY) . So its movement is a combination of two major pairs: if the euro strengthens against the dollar and at the same time the dollar also rises against the yen, EUR/JPY climbs even faster.

In the Iranian market, the Toman rates for the euro and the Japanese yen are quoted separately; the yen usually has low trading volume at Iranian exchange offices, and the ratio between these two domestic rates may differ from the global EUR/JPY.

Factors affecting the euro to yen price

1. The monetary policy gap between the ECB and the Bank of Japan

Both central banks ran highly expansionary policies for years: the European Central Bank had a negative deposit rate from 2014 to 2022, and the Bank of Japan from 2016 to 2024. In periods when Europe raised interest rates sooner and further while Japan lagged behind, the yield gap favored the euro. Any change in market expectations for these two banks is one of the main drivers of EUR/JPY. See the current rates on global interest rates .

2. Risk sentiment and the carry trade

On days when stock markets are rising and investors are looking for higher returns, the yen is sold as a low-yielding currency and EUR/JPY usually rises. When fear takes hold of the market, carry trades are unwound, the yen strengthens and EUR/JPY can drop sharply in a short time. That is why many analysts follow EUR/JPY alongside European and US stock indices.

3. Japanese currency intervention

Intervention by Japan's Ministry of Finance usually takes place in the dollar-yen market, but since the yen strengthens across all crosses, EUR/JPY also moves suddenly at the same time.

4. Economic data

Eurozone inflation and PMI, German data, Japanese inflation and wages, and the Tankan survey are key data for this symbol. Follow their release times and the meeting dates of both central banks in the Teagle economic calendar .

Pip value in EUR/JPY

In yen pairs, each pip is 0.01 . The pip value is first calculated in yen, and to convert it to dollars it must be divided by the USD/JPY rate:

Another important point is that EUR/JPY usually moves more pips in a day than EUR/USD; so with the same size, your account will swing more. The "Pip value" tool on this page does the exact calculation using the live rate.

Best time to trade euro yen

EUR/JPY is active in both the Tokyo and London sessions. Japanese data is released early in the morning Tehran time, and European data from around 10 to 13 Tehran time. The most active window usually starts when European markets open; the short Tokyo–London overlap, which lasts until roughly noon Tehran time, brings liquidity from both currencies into the market at once. When New York opens, US data also affects this cross through USD/JPY and EUR/USD.

See the exact hours, taking European daylight saving time into account, on global market hours .

EUR/JPY in technical analysis

Because EUR/JPY is a combination of two major pairs, its trends sometimes look stronger than either of its components; especially in periods when the interest rate gap favors the euro and the market is calm, an uptrend can continue for months. On the other hand, this pair's declines are often faster and deeper than its rallies; a pattern known in yen crosses as "up the stairs, down the elevator". Round levels such as the hundreds and fifties also usually attract clusters of orders. See recent indicator signals in the "Technical events" section of this page.

EUR/JPY correlation with other symbols

• USD/JPY and EUR/USD: the two components of EUR/JPY, and they almost always explain part of its movement.
• Pound to yen (GBP/JPY): Strong positive correlation; pound yen usually shows the same move with greater volatility. Opening both at the same time in the same direction concentrates the risk on the yen.
• Stock indices: usually move in the same direction in a risk-on environment and fall together in crises.

Risk management tips for trading EUR/JPY

• Calculate the pip correctly: confusing a 0.01 pip with 0.0001 is the most common calculation error in yen pairs.
• Swap and trade direction: the overnight holding cost or gain depends on the interest rate gap between Europe and Japan and differs for buys and sells; check it with the swap calculator .
• Risk of sudden reversal: crisis days can produce a multi-day drop in a few hours; don't forget your stop loss.
• The right broker: spreads on yen crosses vary between brokers; compare them in forex broker reviews .

See other currency pairs in the list of forex market symbols page. The information on this page is for informational purposes only and is not a recommendation to buy or sell; the displayed rate comes from market data sources and may differ slightly from your broker's price. Trading with leverage carries high risk, and you may lose part or all of your capital.