User-Friendly Platform Educational Resources Social Trading Features
Wikitoro author Nick Zelver Written by Nick Zelver
Wikitoro fact checker Wikitoro Team Fact checked by Wikitoro Team
Updated Feb, 2024

To trade USDJPY on eToro, first login or create an eToro account. Then, search for "USDJPY" in the search bar, select the USDJPY result under the Markets category, and click the "Trade" button. Depending on your market outlook, choose either "BUY" or "SELL". Input the amount or number of units you wish to trade, set your stop-loss, leverage, and take-profit preferences, and then click "Open Trade".

Trade USDJPY!

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.

 

Opening Remarks

Trading the USDJPY currency pair, a prominent and sought-after forex pair, offers intriguing opportunities given the relationship between the US Dollar and the Japanese Yen. eToro's platform presents an optimized environment for those eager to explore forex trading. Through this guide, I'll provide to you the steps for eToro USDJPY trading. No need to fret if you're a newbie because I made this is as a straightforward, step-by-step guide designed for easy understanding.

 

Step 1: Login to eToro or sign-up if you haven't already.

Newcomers to eToro should initiate by creating an account on their platform. Navigate to their website or mobile app to begin the registration process. Existing members can just log in.

 

Step 2: Enter "USDJPY" in the search bar, pinpoint the USDJPY result under the Markets category, and press the associated "Trade" button.

After logging in, employ the search feature and type "USDJPY". From the ensuing results, locate USDJPY within the Markets category. Upon identification, click on the "Trade" button alongside it.

 

Step 3: Choose "BUY" or "SELL" based on your trading insight.

Depending on your market assessment, opt for "BUY" if you predict the USD will rise against the JPY, or "SELL" if you believe it will fall.

eToro USDJPY trading page
eToro USDJPY trading page

Step 4: Input the desired amount or specify the currency units you aim to trade.

Define the investment value or the quantity of currency units you're targeting.

Entering eToro USDJPY trade amount
Entering eToro USDJPY trade amount

Step 5: Adjust your stop-loss, leverage, and take-profit settings.

Fine-tune your eToro forex trading preferences. This includes setting a stop-loss to mitigate risks, selecting the leverage magnitude, and earmarking a take-profit level. If these metrics seem complex, you might want to enhance your understanding or seek advice from financial specialists.

Setting USDJPY stop loss, leverage and take profit
Setting USDJPY stop loss, leverage and take profit

Step 6: Click "Open Trade".

Once everything is configured, press the "Open Trade" button. Voila! You've engaged in a USDJPY trade on eToro.

Executing eToro USDJPY trade
Executing eToro USDJPY trade

 

Summing It Up

eToro's platform caters to a spectrum of traders, from novices to veterans, ensuring a streamlined and intuitive trading experience. For those pondering over trading the USDJPY pair or other currency pairs, eToro stands out as a commendable choice. Wishing you success in your 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.

Wikitoro author Nick Zelver About Nick Zelver

Nick is the Senior Content Editor at Wikitoro.org with over 15 years in online marketing. A graduate of Toronto Metropolitan University, he has strategized for More Sales Inc. and led online sales at GlassesUSA.com. His journey through digital marketing, e-commerce, and account management has equipped him with a unique perspective. Every article he pens is infused with his real-world experiences, aiming to guide and inform readers.

Read More
wikitoro author strip image

76% of retail investor accounts lose money