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 USD/JPY is near important long-term resistance as global financial markets continue to demonstrate a rather high degree of short-term nervousness.
The USD/JPY has been on an impressive ascent, signaling a clear path for further gains in the currency market.
The gains of the Japanese yen quickly evaporated after the comments of the Governor of the Bank of Japan before the start of trading.
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The USD/JPY embarked on a rally during Tuesday's trading session, indicating a readiness for further ascent.
With the yen performing as one of the worst performing currencies in the world, could this change things?
Bank of Japan Gov. Ureda spoke over the weekend to the Japanese press suggesting that perhaps the Bank of Japan could be able to raise rates by the end of the year if employment figures continue to behave the way they are.
The price of the USD/JPY currency pair rose now to trade at a few levels above the 100-hour moving average.
The USD/JPY initially experienced a sharp decline during Friday's trading session, descending to the ¥145 level, before staging an impressive comeback.
During Thursday's trading session, the US dollar witnessed a modest dip, initially attempting a rally before relinquishing its gains.
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During trades this week the selling of the Japanese yen continued as the rising US dollar index (DXY) gained strength.
The US dollar recently gained ground during a trading session on Wednesday, drawing attention to the USD/JPY pair.
In a noteworthy development, the US dollar exhibited a robust rally against the Japanese yen during Tuesday's trading session.
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The initial market reaction to the US jobs report for the month of August was clear and immediate, with the drop in the US dollar and yields.
The USD/JPY exhibited a slight rally during Monday's trading session, hinting at a potential breakthrough above the ¥146.50 level.