DislikedA risk management strategy used in limiting or offsetting probability of loss from fluctuations in the prices of commodities, currencies, or securities. In effect, hedging is a transfer of risk without buying insurance policies.
Hedging employs various techniques but, basically,involves taking equal and opposite positions in two different markets (such as cash and futures markets).Ignored
Also, please understand how arbitrage works and you will see why EUR/JPY is very much dependent on USD/JPY and EUR/USD (and vice versa).
I'm sorry Bob, but you are absolutely 100% wrong on both points.