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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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.
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%.
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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.
The USD/JPY pair is still suffering from the bears' control over performance despite the dollar's recovery against the rest of other major currencies.
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.
The US dollar has initially tried to rally against the Japanese yen but fell rather hard to slice through the ¥106 level before turning right back around.
Amid expectations of the announcement of a sharp and record contraction in the Japanese economy today, in the era of Corona, the USD/JPY receives these important data with the return of bears' control, as the pair stabilized around the 106.25 level at the time of writing.
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The US dollar has rallied a bit during the trading session on Monday, as we were trading in thin volume during the Labor Day holiday in the United States.
Throughout last week’s trading, the USD/JPY was in a limited upward correction range despite the US currency’s strength against the rest of the other major currencies.
The US dollar has initially tried to rally during the trading session on Friday, but above the 50 day EMA we have seen a significant amount of resistance.
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Sign up to get the latest market updates and free signals directly to your inbox.The US dollar initially rallied during the trading session on Thursday, breaking above the 50 day EMA before selling off and forming a nasty looking shooting star.
Despite the strength of the US dollar against the rest of the other major currencies, gains from the rebound in the USD/JPY, is still limited, reaching the 106.34 level at the time of writing.
The US dollar rallied a bit against the Japanese yen during the trading session on Wednesday, as we have broken above the ¥106 level.