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 yen fell to over 156 yen to the dollar, hitting its lowest level in a week as the dollar rose after a Fed official offered a more hawkish outlook on US interest rates than markets had expected.
Core inflation in the United States slowed in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
For the second consecutive day, the USD/JPY currency pair is trading under selling pressure, pushing it towards the support level of 153.59 this morning.
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The Japanese yen fell again, surpassing 156 yen to the dollar, hitting its lowest level in two weeks, raising concerns about the possibility of Japanese authorities intervening again to support the currency.
The U.S. dollar has rallied slightly against the Japanese yen on Monday, but I think we are trying to stabilize a little bit above the crucial 155 yen level.
Ahead of key US inflation data, the yen has fallen back to around 156 per dollar, and remains under pressure as investors look to Japan's Q1 GDP data this week.
With the start of trading in the US inflation week, the price of the US dollar against the Japanese yen “USD/JPY” stabilizes around last week’s gains of 155.90 at the time of writing the analysis.
The US dollar initially pulled back just a bit during the trading session on Friday, only to turn around and show signs of strength.
The US dollar has gone back and forth during the course of the trading session against the Japanese yen on Thursday, as we have seen the weekly Unemployment Claims in the United States surprise to the upside.
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The yen's collapse resumed this week as concerns about the country's economy and interventions continued.
According to today's Wednesday trading, the value of the Japanese yen has fallen to over 155 yen against the US dollar, giving up about half of the gains it made last week.
The US dollar rallied a bit during the trading session on Tuesday but has run into a little bit of noise just below the ¥155 level.
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The dollar yen has recovered quite nicely during the Monday session, and we did start to see US dollar buying late on Friday as we approached the crucial 152 yen level.
The Japanese yen was in the spotlight last week as concerns about its future continued.