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.
Most Recent
The US dollar rallied slightly on Tuesday to reach towards the ¥115 level.
The Japanese yen's decline continued this week, despite optimism about the world's third largest economy.
The US dollar rallied again on Monday against the Japanese yen to go looking towards the ¥115 level.
Top Forex Brokers
Like last week, the USD/JPY is stable around the 114.47 resistance level, near its highest in more than a month.
Due to the risk appetite currently in the markets, the Japanese yen lost many of its gains against the rest of the other major currencies.
For the second day in a row, the USD/JPY is moving with bullish momentum, reaching the resistance level of 114.20, where it has settled as of this writing.
Since the beginning of this week, the USD/JPY has been moving in narrow ranges in the vicinity of the 113.33 level and the 113.75 level, where it has settled as of this writing.
The US Federal Reserve’s indications about the future of tightening its policy contributed to strong gains for the dollar pairs.
The US dollar crosses got more bullish momentum after the Federal Reserve announced that it would end its asset buying campaign in March and then start raising interest rates soon after.
Bonuses & Promotions
The US dollar remains strong in the Forex market as investors begin to flock to traditional safe-haven assets amid an ocean of red ink in global financial markets.
The USD/JPY pair's stable performance is expected to remain until investors and markets identify and interact with the important events of this week, starting with the FOMC.
The outlook for the US dollar was boosted last Friday when official figures confirmed US inflation had risen to a new multi-decade high last month, which is likely to keep the Federal Reserve (Fed) on course to accelerate its monetary policy normalization.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.Concerns in Asia about the economic situation in China calmed a bit, leaving room for risk appetite.
Since the start of this week's trading, the USD/JPY has been moving within attempts to rebound upwards, reach the 113.78 resistance and settling around 113.50 as of this writing.
For three trading sessions in a row, the USD/JPY has been trying to stop its losses, moving towards the 113.61 resistance amid a relative calm in the markets considering the Chinese crisis and the new COVID variant.