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 choice of the Governor of the Bank of Japan and the American inflation numbers will be the most influential factors on the performance of the USD/JPY currency pair this week.
The USD/JPY is near the 132.690 ratios as of this writing as it traverses within the higher realms of its near-term price range.
The USD/JPY has initially fallen a bit during the session on Friday, but it certainly looks as if it is going to continue to fight against the Japanese yen, and therefore I think we’ve got a situation where we may be building up a base.
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At this point, the market did pull back just a little bit of distance to reach down below the ¥131 level, but it has seen a little bit of support underneath there.
For the fourth day in a row, the bulls are trying to control the performance of the USD/JPY currency pair.
The US dollar has rallied slightly during the trading session on Wednesday, as we continue to try to find our footing against the Japanese yen.
For three trading sessions in a row, the bulls still control the performance of the USD/JPY currency pair with gains rebounding towards the resistance level of 132.90.
The US dollar has pulled back during the trading session on Tuesday, to fill the gap that we had put in the market at the open on Monday.
At the beginning of this week's trading, the Japanese yen fell strongly against the background of the Nikkei report that the Japanese government had contacted the Deputy Governor of the Bank of Japan.
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The USD/JPY gapped higher on Monday to kick off the trading week to slam into the 50-Day EMA.
At the end of the week's trading, the price of the USD/JPY currency pair jumped to the resistance level of 131.18 after it reached the support level of 128.08 in the same week
If a trader has been able to survive the last few days of pursuing the USD/JPY, they have likely been on the correct side of the move higher, or have used adequate risk management.
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Sign up to get the latest market updates and free signals directly to your inbox.The US Federal Reserve slowed its efforts to rein in inflation, saying more US interest rate hikes were on the cards as officials debated when to end the most tightening of credit in four decades.
The USD/JPY is trading slightly below the 128.600 level as of this writing.
While attempting to recover, the price of the currency pair USD/JPY stabilized around the resistance level of 130.55.