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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Despite the strong signals from the Federal Reserve about the future of raising US interest rates this year, the USD/JPY currency pair is subjected to selling operations that pushed it towards the level of 115.11.
All US dollar pairs will carefully monitor the reaction of markets and investors to what will be contained in the minutes of the last meeting of the US Federal Reserve.
Investors are back in strong demand for safe havens, amid increasing global geopolitical tensions, led by expectations of a Russian-European war.
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The USD/JPY bulls gained more momentum, especially after the announcement of stronger numbers than all expectations for US inflation.
The bulls of the USD/JPY currency pair are still maintaining their gains, reaching the resistance level of 115.67.
For four trading sessions in a row, the price of the USD/JPY currency pair is moving amid bullish momentum.
The price of the USD/JPY currency pair moved at the beginning of the new week's trading with upward gains to the resistance area 115.43 and settled around the 115.06 level at the time of writing the analysis.
In the last two trading sessions of last week, the price of the USD/JPY currency pair moved higher with gains to the level of 115.43 before closing trading stable around the level of 115.18.
For four consecutive trading sessions, profit-taking continues for the USD/JPY currency pair, which is possible until the US job numbers are announced at the end of the week.
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Since the start of trading this week, the price of USD/JPY has been subjected to profit-taking after the storm of support for the dollar passed by the US Federal Reserve.
For three trading sessions in a row, the price of the USD/JPY currency pair is exposed to selling operations that seem to take profits
Expectations of US interest rate hikes are still providing more strength to the US dollar against the other major currencies.
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Sign up to get the latest market updates and free signals directly to your inbox.Despite the US Federal Reserve's indications yesterday that it is determined to raise US interest rates starting next March
The recent sale of the US dollar against the Japanese yen (USD/JPY) stopped at the 113.46 support level, the lowest in a month.
At the end of last week’s trading, the price of the USD/JPY currency pair moved amid bearish momentum, which subsequently moved towards the 113.46 support level