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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Recently, the US dollar rose against the pound, euro, and other major currencies after US retail sales for December beat expectations.
The USD/JPY is near the 147.750 ratio as of this writing, a high late on Wednesday in the currency pair touched the 148.510 mark.
The US dollar demonstrated another rally early on Wednesday against the Japanese yen, although it appears to be somewhat overextended.
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The US dollar rose to its highest level in a month as Treasury yields rose amid growing speculation that the Federal Reserve may be cautious about cutting US interest rates as early as March.
The US dollar experienced a significant rally against the Japanese yen in Tuesday's trading session, following the return of traders from the Martin Luther King Jr. holiday.
Since the start of trading this week, the USD/JPY pair has been on an upward bounce, with gains that have reached the resistance level of 146.26.
During Monday's trading session, the US dollar had a significant rally against the Japanese yen, despite limited liquidity due to the observance of Martin Luther King Jr. Day in the United States.
Trading last week was mostly bullish for the performance of the USD/JPY, where it surged towards the resistance level of 146.41.
The US dollar faced a decline against the Japanese yen in response to the weaker-than-expected Producers Price Index (PPI) data during the Friday trading session.
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The US dollar initially experienced a decline in its value against the Japanese yen, but it subsequently displayed signs of strength.
The easing of expectations for the future tightening of the Bank of Japan's policy in the new year has allowed the bulls to push the price of the USD/JPY pair to gains that have reached the resistance level of 145.82.
The USD/JPY has demonstrated resilience, experiencing a rally in the early hours of Wednesday.
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Sign up to get the latest market updates and free signals directly to your inbox.The US dollar has pulled back from its strongest start to a year in more than a decade, as speculators have piled into bets against the currency, convinced that slowing US inflation will allow the Federal Reserve to start cutting US interest rates this year.
The US dollar exhibited a minor retreat against the Japanese yen as the Tuesday trading session commenced.
The USD/JPY displayed back-and-forth movements during Monday's trading session, leaving little clear direction for potential investments.