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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Since the start of trading this week, the bulls have been trying to control the performance of the USD/JPY currency pair.
The USD rallied a bit against the Japanese yen on Tuesday as we see quite a bit of upward pressure longer-term.
For four trading sessions in a row, the price of the USD/JPY currency pair is settling in a narrow range between the support level of 131.73 and the resistance level of 133.90.
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The US dollar pulled back a bit against the Japanese yen in early Monday morning trading only to turn around and show signs of support.
After sharp selling last week, the USD/JPY currency pair was pushed towards the 131.73 support level.
The US dollar rallied during the Friday session to show signs of life again against the Japanese yen.
The US dollar initially fell on Thursday but found the support level that I had been talking about previously as reason enough to get long.
US inflation figures shook the strength of expectations for the future of a strong and continuous tightening of the US Federal Reserve.
interest rates started to drop across the board, just exactly what the Japanese yen needs to see.
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For four trading sessions in a row, the bulls failed to push the USD/JPY currency pair to more than the 135.58 resistance level.
The USD/JPY currency pair continues to hang around the 50-Day EMA as we are going back and forth around the ¥135 level.
The price of the USD/JPY currency pair may remain stable around its recent gains, following the strong US jobs numbers, until the most important event this week is announced.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/JPY currency pair pulled back ever so slightly on Monday as the ¥135 level has offered a little bit of resistance.
The USD/JPY currency pair started from the support level of 130.40 to the resistance level of 135.50 on Friday, after the announcement that US job numbers were stronger than all expectations.
The USD/JPY currency pair rallied significantly Friday to break above the ¥135 level.