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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Expectations of further tightening of the Bank of Japan's monetary policy continue to support the strength of the Japanese yen against other major currencies, especially against the US dollar.
The Japanese yen has risen to the brink of the 143.00-yen level against the US dollar, recovering sharply from its two-week low as weak US manufacturing data fuelled recession fears, boosting demand for safe-haven assets.
The USD/JPY pair saw a sharp decline to near 145.00, driven by hawkish guidance from Bank of Japan Governor Kazuo Ueda. Ueda reiterated the need for the Bank of Japan to raise interest rates further this year, stressing that the central bank will not hesitate to act if economic and inflationary conditions are in line with expectations.
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At the beginning of this week, the Japanese yen weakened to below 147 yen against the US dollar, reaching its lowest level in two weeks.
For four consecutive trading sessions, the US dollar against the Japanese yen USD/JPY is trying to rebound higher, but its gains did not exceed the 146.25 level.
Ahead of a batch of crucial US economic data, the Japanese Yen traded around 144 Yen against the US Dollar, hovering near its strongest levels in three weeks.
The USD/JPY currency pair failed to rebound upwards during yesterday's trading, failing to exceed the 145.17 level.
The Japanese yen rose above 143.50 yen against the US dollar, hitting a three-week high, as hawkish comments from Bank of Japan Governor Kazuo Ueda contrasted
The Japanese Yen appreciated last Friday following a statement by Kazuo Ueda, Governor of the Bank of Japan.
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The Japanese yen is hovering near its highest level in two weeks.
The Japanese yen stabilized around 145.00 yen per dollar at the start of trading on Wednesday after hitting a two-week high in the previous session, supported by strong expectations that the Federal Reserve will soon begin cutting US interest rates.
The Japanese yen has appreciated to the vicinity of 145 yen against the US dollar, reaching its highest levels in about two weeks due to the weakening US dollar and increased expectations of monetary policy easing by the Federal Reserve.
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The USD/JPY currency pair has clearly plunged over the last couple of trading sessions.
During last week's trading, the USD/JPY currency pair attempted to rally but its gains did not exceed the resistance level of 149.38 before closing the week around the 147.60 level.
On Wednesday, the USD/JPY currency pair exhibited volatile behavior. After rebounding towards the resistance level of 147.57, it retreated to 146.67 following the release of US inflation data, before stabilizing around 147.18 at the beginning of trading on Thursday.