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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In my daily analysis of the dollar against the Japanese yen, it's become increasingly obvious that there are plenty of buyers underneath just waiting to happen and take this market on.
Despite some selling pressure at the end of last week's trading, the USD/JPY pair has given up some of its highest gains in 38 years around the 161.95 resistance level, retreating to 160.33 and closing the week steady around 160.75.
The Japanese yen fell to around 162 yen against the dollar, falling further to its lowest level since 1986, keeping markets wary of further government intervention.
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The Japanese yen's losses widened to over 161.90 against the US dollar, falling to its lowest level in 38 years due to the glaring interest rate differentials between Japan and the US.
As the start of a key trading week, the Japanese yen traded at 161 yen to the dollar, slightly below its 38-year low of 161.72 yen set last week.
The Japanese yen fell to around 161 yen per US dollar, breaking through this level for the first time since 1986, as the Ministry of Finance appointed Atsushi Mimura as Japan’s top currency diplomat, replacing Masato Kanda.
In my daily dollar yen analysis, I see a market that is very bullish.
The Japanese yen suddenly fell to its weakest level since 1986, increasing speculation and authorities may soon have to support the currency again to stop the worst selling in the developed world.
The US dollar rallied rather significantly during the trading session on Wednesday.
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The Japanese yen has settled back to around 159.93 against the US dollar after threatening to breach a key psychological level of 160.
As trading began this week, the value of the Japanese yen fell to around 160 yen per US dollar, approaching its 34-year low of 160.24 yen set on April 29.
USD/JPY is the closest to testing the psychological resistance of 160.00 at the start of this week’s trading.
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The US dollar has rallied yet again during the trading session on Friday as the PMI numbers in the United States came out hotter than anticipated.
The US dollar has continued to plow higher against the Japanese yen during the trading session on Thursday.
The yen weakened further, falling below 158 yen per dollar in Thursday trading, at risk of slipping further to its lowest in 34 years.