EURJPY trading.

Most traders prefer to trade the Yen using the US dollar, but some prefer the EURJPY currency pair.

The main reason for this preference is the trading time: trading during the European Forex session allows for greater profits on this instrument.

The EURJPY pair is a cross-currency pair, which makes trading it somewhat challenging, but it doesn't stop most traders, who love it because of its low spread and good trading dynamics.

Description.

When trading EURJPY, you buy or sell euros for Japanese yen, so the base currency is the euro, and the quote currency is the yen. Trading volumes are measured in euros, with 1 lot equal to 100,000 euros.

The pair has a direct correlation with the euro exchange rate and an inverse correlation with the Japanese yen.

The commission size ranges from 1 to 4, making the instrument suitable for short-term trades using a scalping . The value of 1 pip for a standard lot is approximately $9.9.

A positive swap when opening long positions.

Forex trading features:

The pair is quite volatile and frequently changes direction, so don't expect a stable trend.

trading strategy primarily involves opening short-term trades immediately after a new movement begins; a single move typically yields a few dozen pips.

Be careful when changing trading sessions, as sharp reversals can occur at this time.

Don't forget about the Bank of Japan's much-loved interventions, which usually occur when the Japanese currency strengthens excessively. Therefore, before entering a trade, it's a good idea to assess the current price level.