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 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.
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%
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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.
At the start of this important week's trading, the Japanese yen rose to around 153 yen against the US dollar, after rising more than 2% last week.
This week, the USD/JPY will experience significant volatility due to the policy announcements from both the US Federal Reserve and the Bank of Japan.
The first thing that I notice is that we are stabilizing.
Amid strong selling pressure, the USD/JPY currency pair has been on a downward trajectory throughout this week, reaching a support level of 152.14 at the time of writing
In my daily analysis of the dollar against the yen, the first thing that comes to mind is that we not only broke down below the 155 yen level, but we have collapsed below it.
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The Japanese yen continued its recovery against the US dollar as focus shifted to the upcoming interest rate decisions from the Bank of Japan (BoJ) and the US Federal Reserve next week.
We have seen a significant amount of selling pressure in the US dollar against the Japanese yen.
The Japanese yen held steady around 156.85 to the US dollar as investors prepared for the Bank of Japan’s policy meeting next week.
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Last week, the USD/JPY continued its decline, reaching the support level of 155.37, the lowest for the pair in a month and a half, continuing a sell-off from the yen's weakest level in 38 years.
The yen rose 1.5% to above 155.5 against the dollar today, its highest level in over a month.
The Japanese yen has failed to maintain momentum despite intervention by authorities to stem its weakness.