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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Since last Friday's trading session, the price of the USD/JPY currency pair has been moving in narrow ranges with a bearish slope between the support level 127.14 and the level of 128.30
For two weeks in a row, the USD/JPY currency pair is exposed to profit-taking operations with losses to the 127.02 support level, the lowest in nearly a month.
The pair was sold off, reaching 128.00.
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As the performance of last week, the USD/JPY currency pair has been moving since the start of this week’s trading in a narrow range with an upward bias.
At the end of last week's trading, the price of the USD/JPY currency pair is stabilizing this week, as it is the closest to breaching the 130.00 psychological resistance again.
During last week's trading, the price of the USD/JPY currency pair was exposed to profit-taking operations.
The US dollar jumped strongly after US inflation figures for April came in stronger than markets had expected, leading to warnings that it may take some time before price increases begin to slow.
The stability around the highest levels in 20 years still characterizes the performance of the currency pair USD/JPY characterizes the performance of the currency pair for two consecutive weeks.
The US dollar did very little to inspire a lot of trading on Tuesday, as most of the market is waiting on the Consumer Price Index numbers from America on Wednesday.
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Despite the varying numbers of jobs and wages in the United States of America, the price of the currency pair USD/JPY jumped to the resistance level of 131.35.
The US dollar index DXY stalled as other currencies in the gauge found support after the US non-farm payrolls report showed a continued recovery in employment.
The US dollar rallied a bit on Friday to show signs of strength yet again.
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With the beginning of this week’s trading, the price of the US dollar against the Japanese yen returned to stability above the 130.00 psychological resistance, its highest in 20 years.
The sharp upward trajectory of the performance of the USD/JPY currency pair reached the 131.25 resistance level, the highest in 20 years.