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 US dollar rallied rather significantly during the trading session on Wednesday.
The Japanese yen has settled back to around 159.93 against the US dollar after threatening to breach a key psychological level of 160.
As trading began this week, the value of the Japanese yen fell to around 160 yen per US dollar, approaching its 34-year low of 160.24 yen set on April 29.
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USD/JPY is the closest to testing the psychological resistance of 160.00 at the start of this week’s trading.
The US dollar has rallied yet again during the trading session on Friday as the PMI numbers in the United States came out hotter than anticipated.
The US dollar has continued to plow higher against the Japanese yen during the trading session on Thursday.
The yen weakened further, falling below 158 yen per dollar in Thursday trading, at risk of slipping further to its lowest in 34 years.
At the start of trading today, Wednesday, USD/JPY is hovering bullishly around the 157.92 resistance level.
Since yesterday, the USD/JPY price has been steady bullish around the 157.95 resistance level.
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The US dollar rallied a bit during the early hours on Monday and continued to show signs of resiliency during the trading session.
Recently, the Japanese yen came under renewed pressure following the Bank of Japan's (BoJ) latest policy decision, as the bank failed to meet market expectations of reducing bond purchases.
The US dollar has rallied quite nicely during the early hours on Friday against the Japanese Yen, breaking above the 158 Yen level.
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The greenback continues to levitate against the Japanese yen as we head towards a Bank of Japan meeting during the early hours on Friday.
The USD/JPY pair's upward trajectory took a temporary pause after the release of lower-than-expected US inflation figures.
As the most important trading session of the week begins, the USD/JPY currency pair has settled around the 157.33 resistance level at the time of writing