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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Looking at the US dollar, you can see that we were rather bullish to kick off the trading session on Tuesday but haven’t ran into a significant amount of resistance above the ¥108 level.
The US dollar initially dropped a bit during the beginning of the week, showing signs of weakness.
The Japanese yen is still stronger and the USD bullish correction attempts didn’t pass the 108.63 resistance, and the USD/JPY settled again around 108.30 at the time of writing.
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The US dollar rallied significantly during the trading session on Friday after the jobs number came out much stronger than anticipated.
The US dollar has gone back and forth during the trading session on Thursday in a very tight range, but that shouldn’t be much of a surprise as it has been Independence Day in the United States.
The JPY is still the main beneficiary of continued global trade and political tensions as one of the most important safe haven to hedge investors from the consequences of these tensions.
The US dollar initially pulled back a bit against the Japanese yen during the day on Wednesday but then turned around to show signs of life at the ¥107.50 level later in the day.
Investors returned to buying safe havens again amid renewed fears that Trump would eventually impose stronger tariffs on China even after a truce was announced at the end of last week.
Weak US Economic Results stopped the USD / JPY recovery pushing it to 108.52 at the beginning of this week as investors were optimistic of the Trump and Xi agreement on the resumption of trade negotiations.
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The US dollar gapped higher against the Japanese yen to kick off the trading session on Monday, perhaps in reaction to the bullish attitude after the United States and China agreed to at least continue to talk during their meeting in Osaka.
For the second day in a row, the USD/JPY is attempting to have an upward correction with gains reaching 108.12 at the time of writing
A stronger bearish momentum ahead for the USD/JPY pair, and therefore, tested support level of 106.77, the lowest in more than five months ahead of Powell's comments.
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Sign up to get the latest market updates and free signals directly to your inbox.The US dollar has gone back and forth against the Japanese yen during the trading session on Tuesday, as we have seen a lot of volatility in this market.
We have recently seen a lot of negativity around the world when it comes to economic numbers and of course financial markets.
After three bearish trading sessions for the USD/JPY pair, pushing it towards the 109.26 support level, the pair settled around 109.58 at the beginning of this week