USDJPY, the currency pairing of the US Dollar and the Japanese Yen, is a prominent ticker in the forex market, representing the exchange rate between USD and JPY. Renowned for being one of the most popular and liquid currency pairs, second only to EURUSD, it is highly favored by forex traders. Its appeal lies in the volatility and consistent activity it offers, even during Asian trading hours, ensuring it remains an active pair around the clock.
Known colloquially as 'the Ninja' or 'the Gopher,' USDJPY is available for trading on eToro's platform. This guide I created will provide detailed insights and personal experiences to enhance your understanding of trading this pair.
76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
|🏷️ Forex Name
|💰 Minimum Investment
|⌚ Market Open
Open: Sunday 16:05
Close: Friday 15:30
(GMT -6:00) USA Central
Based on my experience, I've outlined the top benefits of investing in this pair on the platform.
Remember: You are Trading USDJPY via CFD
When trading USDJPY on eToro, it's important to realize that you're engaging in CFD (contract for difference) trading, which means you're speculating on currency price movements rather than physically exchanging USD for JPY.
The attraction of CFD trading lies in its ability to allow traders to speculate on forex market movements without the need for owning the actual currencies.
Upon accessing the USDJPY asset page on eToro, you'll land on the "Overview" section, which serves as the primary information hub. Here, you'll encounter several key elements:
What I particularly appreciate about eToro's platform are the integrated tools that enhance trading this asset:
Curious about how can I trade USDJPY on eToro? The process is straightforward and involves just a few simple clicks.
To trade USDJPY, simply search for the underlying asset on eToro, choose "BUY" or "SELL," enter your investment amount, set your trading preferences, and execute the trade. This streamlined process makes it easy to engage in USDJPY trading on the platform.
Voilà! That covers everything essential for trading the USDJPY pair on this broker's web-based platform or mobile app. Keep in mind the tips I've outlined in this guide, and be sure to these in your eToro forex trading journey!
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.