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 initially pulled back a bit during the trading session on Wednesday, only to turn around and rally towards the 50 day EMA yet again.
There is no significant change in the USD/JPY for the fourth consecutive day.
The US dollar initially pulled back a bit during the trading session on Tuesday, but then rallied significantly to reach towards the ¥105.70 level.
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As can be seen on the USD/JPY daily chart, there are several attempts to breach the resistance level at 105.70 for three trading sessions in a row, but the pair lacks sufficient momentum to cause this to happen.
The US dollar has gone back and forth during the trading session on Monday as traders came back to work.
After six trading sessions in a row, the USD/JPY attempted a bullish correction, gains stalled around the 105.69 resistance before stabilizing around 105.39.
The US dollar initially pulled back a bit against the Japanese yen during the trading session on Friday, but then shot higher.
The US dollar has gone back and forth during the trading session on Thursday, as we have had an argument as to which direction, we are going next.
For four trading sessions in a row, the price of the USD/JPY continues to correct upwards
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The US dollar has broken higher during the trading session on Wednesday, slicing through the ¥105 level.
For the third day in a row, the price USD/JPY is trying to correct upwards, but gains of the bounce did not exceed the 105.07 resistance.
The US dollar has rallied significantly during the trading session on Tuesday to show signs of resiliency.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/JPY pair plummeted to the 104.00 support at the beginning of this week’s trading, which is the pair's lowest level in six months.
The US dollar has gone back and forth during the trading session on Thursday, initially trying to rally towards the ¥105 level, but then fell hard to reach towards the ¥104 level before bouncing yet again.
The sharp selling of the USD/JPY pushed the technical indicators to strong oversold areas, as the pair retreated to the 104.27 support, its lowest level in more than a month and a half.