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 has begun the trading session on Monday by slightly retreating against the Japanese yen.
The USD/JPY currency pair had a bearish trading week, with losses extending to the 146.48 support level.
Throughout Friday's trading session, the US dollar declined slightly as the jobs report was slightly below expectations.
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Early on Thursday, the US dollar dropped significantly versus the Japanese yen, possibly as a result of traders taking note of Friday's nonfarm payroll announcement day.
Since the start of today's trading session on Thursday, the USD/JPY exchange rate has been falling sharply as investors continue to bet that the Bank of Japan (BoJ) will start cutting interest rates soon.
Yesterday, bears attempted to push the USD/JPY currency pair lower, but losses did not exceed the 149.70 level before settling around 150.00 at the time of writing the analysis.
Amidst upward momentum, the exchange rate of the USD/JPY currency pair is stabilizing around the resistance level of 150.55 at the time of writing this analysis.
Even though Monday's rising momentum was a little more muted, I believe this to still be the case for the majority of yen-related pairs.
Recent attempts to break the upward trend of the USD/JPY currency pair failed.
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The US dollar continued to find buyers on every downturn, and it rose early in Friday's trading session.
As we awaited PCE data, the US dollar is retreated early in Thursday's trading session against the Japanese yen.
New indications of the Bank of Japan's imminent shift away from negative interest rates pushed the USD/JPY currency pair lower today.
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Sign up to get the latest market updates and free signals directly to your inbox.The upward stability dominates the performance of the USD/JPY currency pair before the announcement of the US economic growth reading later today.
Tuesday morning's early trade saw a small retreat in the US dollar since there is still a lot of support lying just below.
February 27, 2023, USD/JPY Analysis today