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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Recently, the US dollar exchange rate against other major currencies has remained supported by new warnings from Federal Reserve Chairman Jerome Powell that US interest rates will need to stay at current levels for longer than previously expected.
The US dollar remained near its highest levels in several months against the pound, euro, and other major currencies after the release of more strong economic data.
The sharp uptrend in the price of the US dollar against the Japanese yen USD/JPY continued, with gains reaching the resistance level of 154.44, the highest for the currency pair in 34 years.
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The USD/JPY continued its remarkable rally last week amid continued signals of further tightening by the US Federal Reserve.
The US dollar initially pulled back against the Japanese yen during the trading session on Friday, but at this point in time, have turned around to show signs of strength.
The dollar-yen pair initially pulled back just a bit during the trading session on Thursday only to bounce again.
The Japanese yen continued to plummet to as low as 153.23 against the US dollar, its lowest level in 34 years, after data showed US inflation rose more than expected.
The dollar/yen has shown itself to be very strong and we finally broke through the 150 yen resistance barrier.
The value of the Japanese yen fell to around 152 yen per US dollar, hovering near its lowest level in several decades, prompting Japanese authorities to intervene verbally again.
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The US dollar continues to grind back and forth in general against the Japanese yen as we continue to pressure the 152 yen level.
At the end of last week's trading, the price of the USD/JPY currency pair unexpectedly declined to the support level of 150.82 after strong gains earlier in the week, which had reached the resistance level of 151.95.
The US dollar initially plunged during trading on Friday, as we saw a lot of concern heading into the jobs number.
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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 during the course of the early hours on Thursday, but I think it looks like the ¥152 level continues to be a major issue as far as buyers are concerned.
The first interest rate hike in Japan in 17 years failed to provide the support policymakers were hoping for, as analysts point to four main reasons for the currency's current weakness.
You can see that the US dollar rallied a bit during the course of the trading session on Wednesday, as we continue to threaten the crucial ¥152 level.