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 just a bit during the trading session on Wednesday, but it looks like we continue to find plenty of value hunting.
In today's trading, the value of the yen fell to more than 157 yen per dollar, reaching its lowest level in four weeks and facing pressure from a strong dollar and Treasury yields.
At the start of trading this week, the USD/JPY exchange rate remained stable around the resistance level of 157.00.
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The US dollar has been rather quiet during the course of the trading session on Monday, and that makes a certain amount of sense considering that it was Memorial Day in the United States.
Taking a closer look at the performance of the USD/JPY currency pair on the daily timeframe chart below, it becomes clear that the USD price is consolidating bullishly in a consolidation zone.
The US dollar initially tried to rally against the Japanese yen during the early hours on Friday, but it looks like we are giving back some of the gains.
It looks like the U.S. dollar continues to work its magic against the Japanese yen. As the Bank of Japan is stuck.
USD/JPY remains stable around the 156.78 resistance level as of writing.
Despite the decline in the US dollar against other currencies since the release of below-expected US inflation figures, the overall trend for USD/JPY remains bullish.
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The yen fell to over 156 yen to the dollar, hitting its lowest level in a week as the dollar rose after a Fed official offered a more hawkish outlook on US interest rates than markets had expected.
Core inflation in the United States slowed in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
For the second consecutive day, the USD/JPY currency pair is trading under selling pressure, pushing it towards the support level of 153.59 this morning.
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The Japanese yen fell again, surpassing 156 yen to the dollar, hitting its lowest level in two weeks, raising concerns about the possibility of Japanese authorities intervening again to support the currency.
The U.S. dollar has rallied slightly against the Japanese yen on Monday, but I think we are trying to stabilize a little bit above the crucial 155 yen level.
Ahead of key US inflation data, the yen has fallen back to around 156 per dollar, and remains under pressure as investors look to Japan's Q1 GDP data this week.