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 Tuesday's trading session, the US dollar displayed a minor retreat, only to rebound and exhibit signs of renewed strength.
Amid global concern over developments in the Middle East, investors have increased their interest in buying safe havens, led by both the US dollar and the Japanese yen.
The US dollar rose alongside Treasury yields and stock markets fell after the US reported a surprisingly strong September jobs report.
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The USD/JPY experienced a significant rally during Friday's trading session, largely propelled by the prevailing interest rate dynamics in the financial markets.
The US dollar had a dip during Thursday's trading session, only to swiftly rebound against the Japanese yen.
For three trading sessions in a row, the USD/JPY currency pair has been subjected to profit-taking selling operations that have often been noted for their possibility of occurring at any time.
The USD/JPY is within sight of long-term highs as speculative questions are raised and a complex web of factors need to be considered when choosing directions and timeframes.
The USD/JPY encountered considerable choppiness during Wednesday's session, remaining confined to a narrow trading range.
Suddenly, and as we have often noted and warned about, the Japanese yen rose from its weakest levels in a year against the US dollar amid speculation that Japanese officials were working to slow the decline of the currency.
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The US dollar started the last quarter of 2023 strong as the prospect of a longer US interest rate hike provided strong support, pushing the Japanese yen to its lowest level in 11 months.
In Monday's trading session, the US dollar continued its upward trajectory against the Japanese yen.
During last week's trading, the price of the US dollar against the Japanese yen (USD/JPY) was closest to testing the psychological resistance of 150.00.
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The USD/JPY originally fell during Friday's trading session, but if there is still a lot of erratic behavior, it has turned around versus the Japanese yen.
The USD/JPY experienced a slight decline during Thursday's trading session, indicating a stretched market.
The US dollar increased its gains against all other major currencies and continued to break stronger bullish levels