EUR/JPY is a major forex pair representing the exchange rate between the Euro and the Japanese Yen. It is one of the most traded currency pairs globally, reflecting the economic relationship between the Eurozone and Japan.
Description: EUR/JPY is a cross-currency pair that does not involve the US Dollar. It is heavily influenced by monetary policies of the European Central Bank (ECB) and the Bank of Japan (BoJ), as well as economic indicators from both regions. Traders use it for carry trades due to interest rate differentials and for hedging currency exposure. The pair is known for its liquidity and volatility, often reacting to geopolitical events and risk sentiment.