EUR/JPY is quoted in yen, so a pip is worth ¥1,000 per standard lot, not $10. What that pip costs you depends on the currency your account is held in: on a dollar account it is converted at USD/JPY, on a euro account at EUR/JPY itself. This calculator converts the ¥1,000 pip into your account currency with the latest ECB reference rate. The examples below assume USD/JPY at 150.00 ($6.67 per pip per lot) and EUR/JPY at 162.00 (€6.17), and show the arithmetic so you can check any rate by hand.
EUR/JPY contract facts
| Item | Value |
|---|---|
| Standard lot | 100,000 EUR |
| Mini / micro lot | 10,000 / 1,000 EUR |
| Pip | 0.01 (2nd decimal; the 3rd decimal is a pipette, the MT5 "point") |
| Quote currency | JPY |
| Pip value, 1 lot | ¥1,000 |
| Pip value in USD | 1,000 ÷ USD/JPY rate |
| Pip value at USD/JPY 140 / 150 / 160 | $7.14 / $6.67 / $6.25 |
| Pip value in EUR | 1,000 ÷ EUR/JPY rate (€6.17 at 162.00) |
A lot here is 100,000 euros of exposure; how much a lot is in forex explains the units and what mini and micro lots change.
Which rate converts the pip
The pip is paid in yen. Converting it needs the rate between yen and your account currency, and nothing else:
Pip value per lot (USD) = 1,000 ÷ USD/JPY rate
Pip value per lot (EUR) = 1,000 ÷ EUR/JPY rate
Pip value per lot (JPY) = 1,000On a euro account the pair you are trading is also the conversion rate, which makes EUR/JPY one of the few crosses where the chart in front of you gives the pip value directly. On a dollar account it does not: EUR/JPY at 162.00 tells you nothing about the dollar value of ¥1,000 until you know USD/JPY. The rates used on this page are assumptions for the examples, not quotes. The calculator uses the day's ECB reference rate and shows its date; the pip value calculator shows the value per pip and per 1.00 move for any lot size.
The lot size formula for EUR/JPY
Lot size = (Account balance × Risk %) ÷ (Stop loss in pips × Pip value per lot)Work out the loss per lot in yen, convert it once, then divide. The complete lot size guide covers the same steps on other symbols. Results are rounded down to 0.01 lot, as the calculator does.
Example 1 — $10,000 account, 1% risk, 30-pip stop, USD/JPY 150.00 (assumed):
- Risk amount: $100
- Loss per lot: 30 × ¥1,000 = ¥30,000 = $200.00
- Lot size: $100 ÷ $200.00 = 0.50 lots
Example 2 — $5,000 account, 1% risk, 45-pip stop, USD/JPY 160.00 (assumed):
- Risk amount: $50
- Loss per lot: ¥45,000 ÷ 160 = $281.25
- Lot size: 0.178, rounded down to 0.17 lots
Example 3 — €10,000 account, 1% risk, 30-pip stop, EUR/JPY 162.00 (assumed):
- Risk amount: €100
- Loss per lot: ¥30,000 ÷ 162 = €185.19
- Lot size: 0.54 lots
Example 4 — $100,000 prop-firm account, 0.5% risk, 40-pip stop, USD/JPY 150.00 (assumed):
- Risk amount: $500
- Loss per lot: ¥40,000 = $266.67
- Lot size: 1.875, rounded down to 1.87 lots
On a funded account, check the size against the daily loss limit as well: prop firm daily drawdown explains how firms measure it, and prop firm rules compares the limits.
Quick reference: EUR/JPY lot size at 1% risk (USD/JPY 150.00 assumed)
| Account | 15-pip stop | 30-pip stop | 50-pip stop | 80-pip stop |
|---|---|---|---|---|
| $1,000 | 0.10 | 0.05 | 0.03 | 0.01 |
| $5,000 | 0.50 | 0.25 | 0.15 | 0.09 |
| $10,000 | 1.00 | 0.50 | 0.30 | 0.18 |
| $50,000 | 5.00 | 2.50 | 1.50 | 0.93 |
| $100,000 | 10.00 | 5.00 | 3.00 | 1.87 |
For 0.5% risk, roughly halve each figure; for 2%, roughly double it. At USD/JPY 140 every figure is about 7% smaller, at 160 about 7% larger.
What makes EUR/JPY different
- It is two majors multiplied. EUR/JPY = EUR/USD × USD/JPY. A position in it carries both legs, which is why a long EUR/JPY next to a long USD/JPY doubles the yen side of your book.
- The pip is at the second decimal. 162.00 to 162.30 is 30 pips. On a three-decimal quote MT5 shows that move as 300 points.
- ECB and BoJ decisions move it directly. Eurozone inflation and ECB meetings work on the euro leg, BoJ meetings and yen moves on the other. US data reaches it through both legs.
- It trades in two deep sessions. Tokyo hours carry yen liquidity and London hours carry euro liquidity, so the pair can move in either.
- Yen intervention hits all yen crosses. Japanese authorities have intervened in the yen market before. When it happens, EUR/JPY gaps with USD/JPY and GBP/JPY, and stops can fill far beyond their level.
- Swap follows the rate gap. Holding overnight earns or pays a swap set by eurozone and Japanese rates plus your broker's markup. Read it in the symbol specification before planning a multi-day trade.
Common EUR/JPY sizing mistakes
- Using EUR/JPY to convert on a dollar account. 1,000 ÷ 162 = 6.17 is euros. Treating it as dollars makes the position about 8% too large at the assumed rates.
- Using $10 per pip. At USD/JPY 150 that overstates the loss by half and shrinks the position by about a third.
- Counting pips at the third decimal. 0.005 is half a pip.
- Treating EUR/JPY and GBP/JPY as diversification. Both are short yen when long. A yen rally hits them together.
- Keeping one lot size for months. The dollar risk of the same lot size changes as USD/JPY moves. Recompute it.
Track your EUR/JPY trades in Fips
The calculator on this page is free and needs no account. Fips, the trading journal it belongs to, is in private beta with access by waitlist. In the trading journal, MT4 and MT5 accounts sync through the read-only investor password and cTrader through view-only access; other platforms come in by CSV import or manual entry, and Fips never asks for your login password. Recording the planned risk of each EUR/JPY trade next to the loss you actually took shows whether gaps around ECB and BoJ events are costing you more than 1R.
Frequently asked questions
How much is 1 pip on EUR/JPY?
¥1,000 per standard lot. That is about $6.67 at USD/JPY 150 on a dollar account, and about €6.17 at EUR/JPY 162 on a euro account.
Is the EUR/JPY pip value the same as on GBP/JPY?
Yes. Both are quoted in yen, so a pip is ¥1,000 per lot on either, and on a dollar account both convert at USD/JPY. The difference is the conversion on a euro or pound account.
What lot size should I use on a $10,000 EUR/JPY account?
At 1% risk and a 30-pip stop with USD/JPY at 150, 0.50 lots. With a 50-pip stop, 0.30 lots.
Does the calculator on this page use a live rate?
It uses the latest daily ECB reference rate, shown with its date under the result. It is not a live quote; if the rate cannot be loaded, the calculator asks you to enter it.