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 US dollar rallied again on Monday to reach the crucial ¥118 level
Last Friday's trading session was the most prominent in the bulls' dominance over the direction of the USD/JPY currency pair, as the currency pair jumped from the 116.06 level to the 117.35 resistance level,
For three trading sessions in a row, the price of the USD/JPY currency pair is moving in an ascending path, as a result of which it achieved a move towards the 115.95 resistance level
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For three trading sessions in a row, the exchange rate of the US dollar against the Japanese yen is moving in an upward correction range with gains that reached the resistance level 115.92.
The price of the USD/JPY currency pair attempted to recover, stable around the 115.47 resistance level.
Investors' flight from risk has increased in light of the prolonged and expanding scope of Russia's military operations, adding to market fears.
The US dollar pairs gained additional momentum in addition to the demand for it as a safe haven
After three consecutive trading sessions during which the price of the US dollar against the Japanese yen was exposed to selling operations, it moved towards the 114.70 support level.
Any gains for the USD/JPY currency pair may be an opportunity to sell as the Japanese yen is one of the most important safe havens for investors in times of uncertainty.
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For three trading sessions in a row, the price of the USD/JPY currency pair is recovering, but the rebound attempts stop at the 115.75 resistance level.
Despite the importance of announcing the results of US economic data today, the markets are reacting strongly to the developments in Europe.
The US dollar initially tried to rally on Wednesday but gave back a little bit of the gains to hang about the ¥115 level.
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In the same course as last week, the price of the USD/JPY currency pair moved downwards, with losses to the 114.50 support level in the morning trading today, before settling around the 114.75 level at the time of writing the analysis.
Amid increasing appetite for safe havens, as well as the temporary abandonment of the US dollar, and the recent FOMC minutes, the USD/JPY was sold off.