USD/JPY expresses the value of one US Dollar in Japanese Yen. USD is the base currency and JPY is the quote currency.
- Instrument
- USD/JPY · US Dollar / Japanese Yen
- Base / quote
- USD / JPY
- Quotation basis
- JPY per USD
- Asset class
- Forex
- Product context
- Currency pair
Reading the quotation
In USD/JPY, the order of the currencies matters. A rising quotation means that one USD buys more JPY; a falling quotation means that it buys less. Reversing the pair changes both the quotation and the direction of movement.
Read USD/JPY as JPY per USD. To express an amount in the quote currency, multiply the base-currency amount by the quotation. Daily percentage change refers to the pair's price, rather than the balance of either currency in your account.
Before trading
For USD/JPY, distinguish the displayed quotation from the order price and the amount being traded. Review the spread, position size and applicable order conditions in the workspace.
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