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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On Monday, the Japanese yen declined to over 144.40 yen against the US dollar in thin trading, continuing losses incurred last week amid concerns that the Bank of Japan is in no hurry to raise interest rates.
The Japanese yen declined once more to over 144.40 yen against the US dollar on Friday, reversing earlier session gains, after Bank of Japan Governor Kazuo Ueda acknowledged "some weakness" in the economy, a slightly more dovish tone than previous statements.
For the second consecutive day, the USD/JPY is recovering from its sharp losses, which extended to the 13-month high support level of 139.60.
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The USD/JPY exchange rate has declined for the second consecutive week, reaching its lowest level since December last year. The pair dropped to the 139.60 support level, down about 14% from its high this year, indicating it has entered a correction phase.
The Japanese yen has risen to around 139.80 against the US dollar in thin trading today, Monday, hovering near its highest levels since July 2023 amid a widening divergence in monetary policy between Japan and the United States.
The USD/JPY exchange rate continued its downtrend ahead of upcoming interest rate decisions from the Bank of Japan and the US Federal Reserve.
The Japanese yen has appreciated to over 141 yen against the US dollar, heading towards its highest levels this year amid divergent monetary policies between Japan and the United States.
At the start of this week, the Japanese yen dropped to 143.79 against the US dollar, halting its recent upward trend as the dollar strengthened amid ongoing uncertainty about the Federal Reserve’s upcoming interest rate cut.
Expectations of further tightening of the Bank of Japan's monetary policy continue to support the strength of the Japanese yen against other major currencies, especially against the US dollar.
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The Japanese yen has risen to the brink of the 143.00-yen level against the US dollar, recovering sharply from its two-week low as weak US manufacturing data fuelled recession fears, boosting demand for safe-haven assets.
The USD/JPY pair saw a sharp decline to near 145.00, driven by hawkish guidance from Bank of Japan Governor Kazuo Ueda. Ueda reiterated the need for the Bank of Japan to raise interest rates further this year, stressing that the central bank will not hesitate to act if economic and inflationary conditions are in line with expectations.
At the beginning of this week, the Japanese yen weakened to below 147 yen against the US dollar, reaching its lowest level in two weeks.
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For four consecutive trading sessions, the US dollar against the Japanese yen USD/JPY is trying to rebound higher, but its gains did not exceed the 146.25 level.
Ahead of a batch of crucial US economic data, the Japanese Yen traded around 144 Yen against the US Dollar, hovering near its strongest levels in three weeks.
The USD/JPY currency pair failed to rebound upwards during yesterday's trading, failing to exceed the 145.17 level.