JP225 / Nikkei 225: Live Level, Point Values and the Yen Relationship
The Nikkei trades against the yen more reliably than most indices trade against anything. A weaker yen lifts Japanese exporters, and the index follows - which makes USD/JPY a companion chart rather than a separate market.
JP225 is the Nikkei 225 index. It is price-weighted like the Dow, and its defining relationship is with the yen: a weaker yen tends to lift the index because it flatters exporter earnings. It is the main index of the Asian session, and CME's dollar-denominated futures are 5 dollars per point.
Japan 225 (JP225) right now
One point = 1 of price. A standard lot is 1 units at 1 per point, so pip value = pip size × contract size × lots. Figures assume a USD account; confirm the contract size with your broker.
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Open JP225 on the live desk (H1) → See what the desk does →The yen relationship
Japan's large exporters earn abroad, so a weaker yen raises their reported profits and tends to lift the Nikkei. The inverse also holds: yen strength, which often arrives with global risk-off, hits the index twice. If you trade this index, USD/JPY belongs on the same screen - and holding both in the same direction may be one position rather than two.
How it is quoted and sized
The Nikkei is price-weighted, like the Dow, so high-priced constituents dominate. Contracts exist in both yen and dollars: CME's dollar-denominated future is $5 per index point, the yen-denominated contracts are priced in yen, and CFD point values are set by your broker. Check which one you are actually trading before sizing.
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Play free, no signup →Session behaviour
This is the index of the Asian session: it opens while Europe sleeps, takes its cue from the US close, and often sets the tone for European futures. Liquidity thins sharply outside Tokyo hours.
Sizing it
Because the same index trades in two currencies, the first job is establishing your instrument's point value and denomination. The tool above sizes from a stop in points once you have that.
How far JP225 actually moves
Measured on the OANDA feed our charting desk runs on, 2026-01-11 to 2026-09-17 (180 completed daily bars). Recalculated every week.
| Average daily range | 1749.8 points |
|---|---|
| Median day | 1632.8 points |
| Widest day in the window | 4790.0 points |
| Quietest day | 587.5 points |
| Average as % of price | 2.85% |
| Widest weekday | Tuesday (1913.3 points) |
| Busiest hour | 00:00 UTC, about 816.9 points in that hour (quietest 20:00, 200.0) |
The median is the middle day and the average is pulled up by a handful of violent ones, so size a stop against the median and expect the average to flatter you. Full table for every instrument, with the method, on average daily range by pair.
Frequently asked questions
What is one Nikkei point worth?
It depends on the contract: CME's dollar-denominated future is $5 per point, yen-denominated contracts are priced in yen, and CFD values are broker-set.
Why does the Nikkei follow the yen?
A weaker yen raises the reported earnings of Japan's large exporters, which lifts the index. Yen strength does the reverse.
Is the Nikkei price-weighted?
Yes, like the Dow, so higher-priced constituents influence it more than larger ones.
When is JP225 most active?
The Tokyo session. Liquidity thins considerably outside Asian hours.
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