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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We have seen a significant amount of selling pressure in the US dollar against the Japanese yen.
The Japanese yen held steady around 156.85 to the US dollar as investors prepared for the Bank of Japan’s policy meeting next week.
Last week, the USD/JPY continued its decline, reaching the support level of 155.37, the lowest for the pair in a month and a half, continuing a sell-off from the yen's weakest level in 38 years.
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The yen rose 1.5% to above 155.5 against the dollar today, its highest level in over a month.
The Japanese yen has failed to maintain momentum despite intervention by authorities to stem its weakness.
The USD/JPY is expected to remain on its current downward trajectory pending the reaction to the announcement of US inflation figures.
Since the announcement of U.S. inflation figures falling below all expectations, the USD/JPY exchange rate has been experiencing strong selling pressure.
This is a market that looks like it's trying to fall apart, but quite frankly, I'm not impressed and the reason I say that is that the interest rate differential is still massive.
The yen has fallen to around 161.75 per dollar, just below its 38-year low, as the dollar strengthens.
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It’s easy to see that the US dollar continues to rally quite significantly against the Japanese yen.
The Japanese yen has returned to around 161 yen per US dollar, paring gains made in recent sessions.
For four consecutive trading sessions, the US dollar against the Japanese yen (USD/JPY) has been subjected to selling operations that pushed it towards the support level of 160.26.
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In my daily analysis of the dollar against the Japanese yen, it's become increasingly obvious that there are plenty of buyers underneath just waiting to happen and take this market on.
Despite some selling pressure at the end of last week's trading, the USD/JPY pair has given up some of its highest gains in 38 years around the 161.95 resistance level, retreating to 160.33 and closing the week steady around 160.75.
The Japanese yen fell to around 162 yen against the dollar, falling further to its lowest level since 1986, keeping markets wary of further government intervention.