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 Japanese yen has appreciated to the vicinity of 145 yen against the US dollar, reaching its highest levels in about two weeks due to the weakening US dollar and increased expectations of monetary policy easing by the Federal Reserve.
The USD/JPY currency pair has clearly plunged over the last couple of trading sessions.
During last week's trading, the USD/JPY currency pair attempted to rally but its gains did not exceed the resistance level of 149.38 before closing the week around the 147.60 level.
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On Wednesday, the USD/JPY currency pair exhibited volatile behavior. After rebounding towards the resistance level of 147.57, it retreated to 146.67 following the release of US inflation data, before stabilizing around 147.18 at the beginning of trading on Thursday.
At the beginning of this week, the USD/JPY currency pair rose, surpassing the 148.00 resistance level amid thin trading volumes as Japanese markets were closed due to a holiday.
The USD/JPY currency pair has stabilized modestly in recent days as some traders continued to buy the dip.
The USD/JPY pair continues to fail to break above the previous trendline.
For the second consecutive day, the USD/JPY currency pair has attempted to rebound upward to recoup its recent sharp losses, which pushed it towards the 141.68 support level, its lowest since January 2024.
The Japanese yen has declined to around 146 yen against the US dollar, retreating from its seven-month high of 141.68 as the unwinding of popular carry trades slowed while investors continued to assess the divergent monetary policies between Japan and the United States.
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The Japanese yen has continued its sharp gains, jumping to 141.68 yen per dollar, reaching its highest level since early January 2024.
The US dollar has plunged against the Japanese yen in trading on Monday as we have now breached the 143 yen level, but it is worth noting that we are at least attempting to recover a bit.
The Japanese yen extended its rally to above 146.50 yen against the US dollar, its strongest level since last March, after the latest economic data widened the divergence between the monetary policy expectations of the US Federal Reserve and the Bank of Japan.
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The Japanese yen rose against the US dollar in the middle of the trading week after the Bank of Japan raised its benchmark interest rate by up to 25 basis points.
Today, the Japanese yen traded around 151.70 yen to the dollar after experiencing sharp swings earlier in the session as the Bank of Japan raised interest rates to 0.25%
The US dollar rallied a bit during the trading session on Tuesday to reach above the 155 yen level, but we have seen a little bit of a pullback.