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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In the early hours of Monday, the US dollar saw some small strength, but market volatility remains high.
The USD/JPY was exposed to profit-taking selling operations that pushed it towards the support level of 149.18 before settling around the level of 149.55.
The USD/JPY experienced a decline during Thursday's trading session, edging closer to the ¥150 level.
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The USD/JPY has experienced a slight pullback during the early trading hours of Wednesday, creating an opportunity for value hunters to re-enter the market as anticipation builds for the upcoming Federal Reserve announcement.
For the second day in a row, the price of the USD/JPY currency pair is subject to selling from its highest levels in a year, stabilizing around 150.40.
The USD/JPY, it jumped to the 151.70 resistance level, its highest level in a year, from the 149.01 level in the same trading session.
The USD/JPY staged a substantial rally during Tuesday's trading session, largely spurred by the Bank of Japan's meeting, which hinted at a loose approach to interest rates.
Recently, the currency pair rebounded upward, breaching the psychological resistance of 150.00 again, settling around the resistance level of 150.31.
In Monday's trading session, the USD/JPY initially faltered but swiftly reversed course, displaying renewed strength.
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The weakness of the Japanese yen in the markets has been continued with the USDJPY reaching the resistance level of 150.77 last week.
During the Thursday trading session, the US dollar showed a remarkable run higher, surpassing the ¥150 level.
The USD/JPY showed slight retracement early on Wednesday, introducing a sense of uncertainty near the critical ¥150 level.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/JPY jumped towards the 150.47 resistance level, its highest level in a year and stable around it at the time of writing the analysis.
The currency pair US Dollar against the Japanese Yen (USD/JPY) is closest to testing the psychological resistance of 150.00 nearby.
The USD/JPY jumped towards the psychological resistance level of 150.00 for a very short time before retreating towards the support level of 149.55.