* Euro trades above $1.31 for first time since early May * Focus now on whether euro can climb above $1.3125 (Updates prices, adds details and comment) * Euro trades above $1.31 for first time since early May How do you lose money in the Forex market? All trades made in the forex market are made in pairs . In other words, one currency is always quoted against another currency, for example the U.S. Dollar against the Japanese yen or the U.S. Dollar against the euro . When a trader buys the dollar against the yen, he or she is hoping or speculating that the dollar will increase in value, while the Yen ... FXstreet.com (Barcelona) - The British pound is continuing to strengthen against an embattled Japanese yen Monday, with the pair rising above the 135.00 mark early over the Asian session. Currently the GBP/JPY trades at 135.12 where it is 40 pips or 0.34% higher since open.