The EURJPY refers to the cross between EURO, the currency of the Eurozone, and JPY, Japan's currency. The EURJPY is a minor currency pair and is the seventh most popular pair traded on the forex market. It represents around 3% of all daily transactions because high levels of volatility provide plenty of trading opportunities to traders and investors.

What is EURJPY?

The EURJPY currency pair was created on 1st January 1999, when the EURO was introduced as a new currency. However, the pair started trading on the forex market on 4th January 1999. Since then, it has become one of the world's most actively traded currency pairs.

Regarding individual currency, JPY is the third most widely traded currency globally and the fourth reserve currency due to the solid Japanese industrial base. On the other hand, EURO is the second most commonly traded currency, after the US dollar, and its value is highly dependent on the exports of the Eurozone. Investors willing to understand how to trade EURJPY must pay attention to that kind of details.

How does EURJPY work?

It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURJPY start without risking their real assets.

Several factors influence the exchange rate price, including macroeconomic and geopolitical events, market sentiment, and financial conditions of the Eurozone and Japan. Besides these factors, the policies of the central banks of Japan and the Eurozone also influence the EURJPY price.

EURJPY price history

An essential part of research about a currency pair is its past performance. That's why, to help traders with their investing decisions, investors can analyze the last few years' performance of the currency pair.

2018

At the start of the year, the EURJPY was at 135.4597 JPY, and at the end, it was at 125.9852 JPY. The year's best value was 137.2232 JPY, recorded on 3rd February, whereas the worst exchange rate was 125.3465 JPY, observed on 9th May 2018. The year's average exchange rate was 130.3499 JPY.

2019

The year started with the exchange rate at 125.7028 and ended at 121.9958 JPY. The year's best value was 127.3463 JPY on 3rd March 2019, and the worst value was 116.2251 JPY, recorded on 3rd September 2019. The average exchange rate of the year was 122.076 JPY.

2020

On 1st January 2020, the EURJPY Price was 121.9577 JPY; on 31st December 2020, it was 126.1172 JPY. On 29th December 2020, the exchange rate was maximum, i.e., 126.8716 JPY, and lowest on 6th May 2020, i.e. 114.4682 JPY. The average value of the year was 121.8352 JPY.

2021

At the beginning of the year, the exchange rate was at 125.2783 JPY, and by the end, it accelerated to 130.8895 JPY. On 30th May 2021, the rate was highest, i.e., 133.9606 JPY, whereas it was the worst on 18th January 2021, i.e., 125.2557 JPY. The year's average value was 129.8632 JPY.

2022

On 1st January 2022, the EURJPY was at 130.9225 JPY; on 31st December 2022, it was 140.6356 JPY. On 25th October 2022, the best rate of 147.5548 JPY, and on 6th March 2022, the worst rate of 124.9538 JPY was recorded. The average value of the year was 138.0415 JPY.

Current EURJPY price

The current EURJPY price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is EURJPY a good investment?

Whether EURJPY is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors eager to learn how to invest in forex worldwide.

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