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 has gone back and forth during the trading session on Friday but overall has seen more negativity than anything else.
The US dollar has broken major support and the ¥105 level, an area that of course has been very important in the past and of course is a very large, round, psychologically significant figure.
There is no doubt that the recent sell-off pushed the USD/JPY price towards its lowest level in a month and a half, reaching the 104.78 support, where it is stable around at the time of writing.
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The US dollar has broken down significantly during the trading session on Wednesday, slicing through the ¥105 level, but is closing right around that level.
Ahead of this week’s important US Federal Reserve announcement of its monetary policy decisions and the statements of its Governor Jerome Powell, the USD/JPY was subject to selling operations that pushed it towards the 105.30 support, its lowest level in two weeks, and stabilized near it at the time of writing.
The US dollar has fallen again during the trading session on Tuesday, as we continue to see the Japanese yen strength and overall.
As we expected earlier, the bears have the opportunity to push the USD/JPY to stronger support areas, which happened in the beginning of this week’s trading
The US dollar has fallen rather hard against the Japanese yen during trading on Monday to kick off the week, which should not be a huge surprise considering that we continue to see the US dollar lose ground.
For two weeks in a row, the USD/JPY performance was disappointing, as the pair continued to move in limited ranges amid a more downward tendency.
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The US dollar has so far been relatively buoyant during the week and Friday was not any different.
Japan revised its second-quarter GDP lower, from an initial collapse of 27.8% to 28.1%.
The US dollar has gone back and forth during the trading session on Thursday again, as we tread water against the Japanese yen just below the 50 day EMA.
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The US dollar initially fell during the trading session on Wednesday but then turned around to rally towards the 50 day EMA again.
The bulls failed to push the USD/JPY higher than the 106.55 resistance, and with the renewed global geopolitical tensions and the investors’ appetite for safe havens, the Japanese yen was more popular.