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 recent sell-off in USD/JPY has been halted in the past few weeks, supported by strong intervention from the Bank of Japan (BoJ).
Since the start of this week's trading, the USD/JPY exchange rate has been subject to selling operations that pushed it towards the support level of 154.54 at the time of writing the lowest analysis in two weeks.
The Japanese yen rose to around 155.80 yen against the US dollar, hovering near its strongest level in two weeks as the US dollar weakened on the back of weak US manufacturing data that supported expectations of rate cuts by the Federal Reserve.
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At the end of last week's trading, the Japanese yen stabilized against the US dollar after Japan confirmed that the government intervened in the forex market for the first time since 2022.
The dollar has rallied again against the Japanese yen and what would have been a very, very choppy market.
Since the beginning of today's trading session (Thursday), the USD/JPY exchange rate has been subjected to selling pressure.
The US dollar initially pulled back just a bit during the trading session on Wednesday, but it looks like we continue to find plenty of value hunting.
In today's trading, the value of the yen fell to more than 157 yen per dollar, reaching its lowest level in four weeks and facing pressure from a strong dollar and Treasury yields.
At the start of trading this week, the USD/JPY exchange rate remained stable around the resistance level of 157.00.
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The US dollar has been rather quiet during the course of the trading session on Monday, and that makes a certain amount of sense considering that it was Memorial Day in the United States.
Taking a closer look at the performance of the USD/JPY currency pair on the daily timeframe chart below, it becomes clear that the USD price is consolidating bullishly in a consolidation zone.
The US dollar initially tried to rally against the Japanese yen during the early hours on Friday, but it looks like we are giving back some of the gains.
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Sign up to get the latest market updates and free signals directly to your inbox.It looks like the U.S. dollar continues to work its magic against the Japanese yen. As the Bank of Japan is stuck.
USD/JPY remains stable around the 156.78 resistance level as of writing.
Despite the decline in the US dollar against other currencies since the release of below-expected US inflation figures, the overall trend for USD/JPY remains bullish.