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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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.
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For four trading sessions in a row, the price of the USD/JPY continues to correct upwards
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.
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.
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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.
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.
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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.