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 Australian dollar has fallen again during the trading session on Thursday, as we continue to see a lot of volatility when it comes to the antipode currencies.
For three consecutive trading sessions, the USD / JPY pair is trading at the 108.28 resistance level, with little change.
The US dollar initially fell against the Japanese yen during the trading session on Wednesday but found plenty of buyers near the ¥108 level.
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The US dollar rallied a bit during the trading session on Tuesday, breaking above the crucial ¥180 level, which I considered to be “fair value” when it comes to the recent consolidation area.
For three consecutive trading sessions, the USD / JPY pair moved in a bullish correction from its 107.21 support level, which was the lowest level in a month, reaching resistance at 108.18 at the time of writing.
The US dollar initially tried to rally during the trading session on Monday but found plenty of resistance at the ¥108 level that has turned the market around.
For the second day in a row, the USD / JPY pair is trying to recover its recent losses, which reached 107.20 support, its lowest level for almost a month, settling around 108.05 at the time of writing.
The US dollar bounced a bit during the trading session on Friday to recover against the Japanese yen, showing signs of life again.
The US dollar broke down during the trading session on Thursday against the Japanese yen and what had been massive volatility.
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The weakness of the US dollar, investors risk aversion, and the return to safe havens contributed to the evaporation of the USD / JPY gains,
The US dollar initially tried to rally during the Wednesday trading session against the Japanese yen but has pulled back towards the ¥108 level.
Positive US retail sales for June supported gains for the US dollar versus other major currencies, and the price of the USD/JPY pair moved towards 108.37 after testing 107.80 support at the beginning of yesterday's session
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For four consecutive trading sessions, the USD/JPY pair has stabilized around and below the 108.00 psychological support level, with losses reaching support at 107.80.
The US dollar has rallied a bit during the Monday session against the Japanese yen but gave back the gains to form a rather lackluster looking candle stick.