Free tool · Market statistics
EUR/JPY (EURJPY) volatility by hour, day and month
When EUR/JPY moves, how much, and on which days — measured on 1513 trading days of real one-minute data from our broker feed, 2021-01-04 to 2026-10-30. Descriptive statistics of the past, not a forecast.
Volatility by hour
Over the last 12 months, the hour with the widest average range on EUR/JPY was 15:00–16:00 UTC (18.4 bp), and the quietest was 21:00–22:00 UTC (6.1 bp): 3.0 times smaller.
Average range of each one-hour bar, in basis points of price. Hours without prices in our feed are not drawn.
Table: range by hour, UTC, last 12 months
| Hour (UTC) | Mean, bp | Median, bp | Hours measured |
|---|---|---|---|
| 00:00 | 16.0 | 15.0 | 89 |
| 01:00 | 13.9 | 12.2 | 89 |
| 02:00 | 11.7 | 10.2 | 89 |
| 03:00 | 10.1 | 8.6 | 89 |
| 04:00 | 10.3 | 10.0 | 88 |
| 05:00 | 10.7 | 10.5 | 88 |
| 06:00 | 11.3 | 9.9 | 88 |
| 07:00 | 16.4 | 13.0 | 88 |
| 08:00 | 15.5 | 14.0 | 88 |
| 09:00 | 14.0 | 12.1 | 88 |
| 10:00 | 11.2 | 10.4 | 88 |
| 11:00 | 10.0 | 8.8 | 88 |
| 12:00 | 11.4 | 10.4 | 88 |
| 13:00 | 13.6 | 11.8 | 88 |
| 14:00 | 15.6 | 13.7 | 88 |
| 15:00 | 18.4 | 16.0 | 88 |
| 16:00 | 12.3 | 10.4 | 88 |
| 17:00 | 10.9 | 10.1 | 88 |
| 18:00 | 8.3 | 7.2 | 88 |
| 19:00 | 8.1 | 7.2 | 88 |
| 20:00 | 7.2 | 6.1 | 88 |
| 21:00 | 6.1 | 5.4 | 88 |
| 22:00 | 11.4 | 9.7 | 89 |
| 23:00 | 11.8 | 10.2 | 89 |
Day of the week
Thursday has the widest average daily range (0.85%), Tuesday the narrowest (0.77%). Only Monday, Tuesday, Wednesday shows an average open-to-close return that is distinguishable from zero at 95% confidence (marked •). Even then it is one measurement over a few years: check the year-by-year table before reading anything into it.
| Day | Average range | Open → close, mean ± 95% CI | Up days | Days |
|---|---|---|---|---|
| Monday | 0.78 % | +0.175 % ± 0.053 • | 66.4 % | 301 |
| Tuesday | 0.77 % | +0.077 % ± 0.060 • | 58.9 % | 304 |
| Wednesday | 0.78 % | +0.109 % ± 0.062 • | 60.9 % | 302 |
| Thursday | 0.85 % | −0.019 % ± 0.065 | 51.3 % | 302 |
| Friday | 0.83 % | +0.042 % ± 0.060 | 53.9 % | 304 |
Average open → close return, year by year (%)
| Year | Mon | Tue | Wed | Thu | Fri |
|---|---|---|---|---|---|
| 2021 | +0.068 | +0.042 | +0.090 | +0.028 | +0.005 |
| 2022 | +0.252 | +0.125 | +0.146 | −0.094 | +0.002 |
| 2023 | +0.241 | +0.054 | +0.128 | −0.098 | +0.150 |
| 2024 | +0.131 | −0.003 | +0.173 | +0.062 | −0.038 |
| 2025 | +0.199 | +0.122 | +0.112 | +0.054 | +0.136 |
| 2026 | +0.161 | +0.131 | −0.016 | −0.076 | −0.015 |
Monthly seasonality
Return of each calendar month, from the first open to the last close. With only 6 years per month, one unusual year moves the average a lot: the median and the year-by-year table are there to show it.
| Month | Mean | Median | Positive | Years |
|---|---|---|---|---|
| January | +0.22 % | +0.19 % | 50 % | 6 |
| February | +0.67 % | +0.88 % | 67 % | 6 |
| March | +1.58 % | +0.85 % | 83 % | 6 |
| April | +1.67 % | +1.52 % | 83 % | 6 |
| May | +0.90 % | +1.04 % | 83 % | 6 |
| June | +2.06 % | +2.08 % | 83 % | 6 |
| July | −2.08 % | −1.59 % | 17 % | 6 |
| August | +0.86 % | +0.45 % | 50 % | 6 |
| September | −0.44 % | −0.33 % | 50 % | 6 |
| October | +2.04 % | +2.42 % | 83 % | 6 |
| November | −1.28 % | −2.10 % | 40 % | 5 |
| December | +0.22 % | +1.75 % | 60 % | 5 |
Every month, year by year (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | +0.7 | +1.2 | +1.0 | +1.2 | +1.9 | −1.6 | −1.2 | −0.2 | −0.8 | +2.3 | −2.7 | +2.1 |
| 2022 | −1.1 | −0.2 | +4.5 | +1.8 | +0.8 | +3.1 | −4.2 | +2.6 | +1.7 | +3.8 | −2.1 | −2.3 |
| 2023 | +1.0 | +2.0 | +0.0 | +3.9 | −0.8 | +5.8 | −0.6 | +0.9 | +0.1 | +1.5 | +0.7 | −3.5 |
| 2024 | +2.2 | +2.0 | +0.7 | +3.1 | +1.4 | +1.1 | −5.9 | −0.5 | −0.8 | +3.5 | −4.3 | +3.0 |
| 2025 | −1.2 | −1.5 | +3.5 | −0.2 | +0.9 | +4.0 | +1.5 | −0.0 | +1.0 | +2.5 | +2.0 | +1.8 |
| 2026 | −0.3 | +0.5 | −0.2 | +0.2 | +1.1 | +0.0 | −2.0 | +2.3 | −3.9 | −1.3 | — | — |
Trading sessions
How much of the day's range happens inside each session, over the last 12 months. Sessions overlap, so the shares do not add up to 100%. A session with no prices in our feed is not listed.
| Session | Average range | Median share of the day's range | Days |
|---|---|---|---|
| Tokyo 09:00–15:00 Tokyo time | 27.5 bp | 46 % | 258 |
| London 08:00–16:30 London time | 41.3 bp | 71 % | 258 |
| New York 08:00–17:00 New York time | 33.8 bp | 58 % | 258 |
Volatility over the last year
ATR (14) as a percentage of the price, one point per trading day.
How it is measured
- One-minute bid prices from the cTrader broker feed we use for our own backtests: 1513 complete trading days, 2021-01-04 to 2026-10-30.
- A trading day is the broker's: it closes at 17:00 New York time, as in cTrader. Partial days (holidays) are left out.
- Range = high − low of the period, as a share of its opening price. 1 bp (basis point) = 0.01%. ATR is Wilder's 14-day average true range.
- The hourly profile is measured in UTC and kept separately for US summer and winter time, so the hours shown in your time zone stay right all year.
- Updated every day after the market data sync. These are descriptive statistics of the past: they are not a forecast and not a trading signal.