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 USD/JPY experienced some profit-taking at the beginning of last week's trading that pushed it towards the support level of 104.40 before recovering and reaching 105.18, closing trading around 104.90.
The turmoil regarding US economic stimulus plans continues to weaken risk sentiment towards the dollar.
For the third day in a row, the USD/JPY is moving lower due to profit-taking.
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For two weeks in a row, the USD/JPY has tried to correct the upside.
The improvement in US job numbers was better than expected, contributing to further gains for the USD/JPY pair, which settled around the 105.20 resistance level as of this writing, its highest in nearly three months.
The USD/JPY has found itself engaged within a developing bullish movement which needs attention by speculators if they have not been looking at the Forex pair.
The USD/JPY is moving in an upward correction path this week that has tested the 105.17 resistance level, its highest in over two months, before stabilizing around 105.95.
The USD/JPY has been moving within a bullish channel, stabilizing around the 105.00 resistance level at the beginning of Tuesday's trading and waiting for more momentum.
Prior to the closing of last week’s trading, the Japanese yen fell against the rest of the other major currencies.
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The USD/JPY pair jumped to the 104.20 resistance level after a downward stability around the 103.58 support level before the announcement of the Federal Reserve's monetary policy.
Despite the improvement in US consumer confidence, the USD/JPY remains stable around the 103.60 support level.
The USD/JPY pair tried but failed to breach the 104.00 resistance at the beginning of this week's traing, instead settling around 103.70 and losing enough momentum to reverse the general trend.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/JPY currency pair is trying to correct higher, but attempts to rebound to the upside are still weak.
With the inauguration of President Joe Biden and the end of the Trump era, which had brought unprecedented economic success to the US, the USD still received some support, though likely temporary.
The US dollar fell against most other major currencies as risk sentiment improved in the market amid hopes of further economic stimulus.