The most active trading sessions for the USD/JPY take place in Tokyo, London and New York. Day traders look mostly to the London and New York sessions but those trading wishing to trade on the Asian markets can do so between 2400 GMT - 0900 GMT.
USD/JPY has traditionally been the most politically sensitive currency pair, with successive U.S. governments using the exchange rate as a lever in trade negotiations with Japan. For day-to-day trading, the most significant feature of USD/JPY is the heavy influence exerted by Japanese institutional investors and asset managers.
The USD/JPY has recently dipped below 101.00. Read the Daily Forex USD to Japanese Yen forecast and get access to the most up-to-date statistics, analyses and economic events regarding the USD/JPY.
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The US dollar has gone back and forth during the trading session on Wednesday, as we continue to grind just below the ¥108 level.
With the global Covid-19 pandemic keeping the economy hostage, the Bank of Japan notes financial risks related to the crisis.
The US dollar initially fell during the trading session on Tuesday but bounced enough to turn around and form a little bit of a hammer.
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The US dollar has been relatively quiet during the trading session on Monday to kick off the week, as we continue to see a lot of ranging action.
The US dollar has gone back and forth during the trading session on Friday, as we continue to see a lot of choppiness in this market.
The US dollar initially pulled back a bit during the trading session on Thursday, but then shot much higher as the volatility continues.
The US dollar has initially pulled back a bit to kick off the trading session on Wednesday, reaching towards the ¥107 level.
The stronger than expected Chinese trade data also affected the dollar.
The US dollar has fallen against the Japanese yen during the trading session on Tuesday, reaching down towards the vital ¥107 level.
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The US dollar fell hard against the Japanese yen to kick off the week on Monday, but it should be noted that liquidity may have been a bit of an issue
The US dollar was very quiet during Good Friday against the Japanese yen as one would expect, being a major holiday around the world.
The US dollar has initially tried to rally during the day on Thursday but gave back the gains as we continue to tread water around the 50 day EMA
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The US dollar has gone back and forth during the trading session on Wednesday, as the market simply has no direction against the Japanese yen
The USD/JPY pair remained under downward pressure pushing it towards the 108.66 support before settling around the 108.80 at the time of writing.