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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Fed policy and the financial conditions affecting it have shifted in a tighter direction at a brisk pace since June of last year
The US dollar initially fell during the trading session on Thursday but found buyers underneath to show signs of life yet again.
Looking at our technical analyses and regarding the future price of the USD/JPY currency pair, we often recommended buying the currency pair from each descending level.
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During yesterday's trading session, the price of the US dollar against the Japanese yen tried to recover from the pace of its recent losses with gains to the resistance level 128.90.
The US dollar rallied quite significantly on Tuesday as we have broken out of a falling wedge.
Although there was limited trading, the price of the USD/JPY currency pair moved at the beginning of this week’s trading between the support level 126.85 and the level of 127.82.
For five trading sessions in a row, the losses of the USD/JPY currency pair stopped at the support level 126.35 and settled around the 127.20 level at the time of writing the analysis.
Fed officials agreed at their meeting this month that they need to raise US interest rates by half a point in their next two meetings
By simply observing the performance of the USD/JPY currency pair on the daily chart below, it seems clear that the currency pair breached the ascending channel.
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Since last Friday's trading session, the price of the USD/JPY currency pair has been moving in narrow ranges with a bearish slope between the support level 127.14 and the level of 128.30
For two weeks in a row, the USD/JPY currency pair is exposed to profit-taking operations with losses to the 127.02 support level, the lowest in nearly a month.
The pair was sold off, reaching 128.00.
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As the performance of last week, the USD/JPY currency pair has been moving since the start of this week’s trading in a narrow range with an upward bias.
At the end of last week's trading, the price of the USD/JPY currency pair is stabilizing this week, as it is the closest to breaching the 130.00 psychological resistance again.
During last week's trading, the price of the USD/JPY currency pair was exposed to profit-taking operations.