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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For nearly a month, the 104.00 support level has been important for the USD/JPY performance.
The US dollar fell during the trading session on Thursday to break down below the ¥104 level.
News surrounding coronavirus vaccines and President Trump's transition initiation caused losses to the safe haven USD.
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The US dollar rallied significantly during the trading session against the Japanese yen on Wednesday, but continues to find resistance near the 50-day EMA.
For three trading sessions in a row, the USD/JPY currency pair has been trying to correct higher.
The US dollar rallied initially during the trading session on Tuesday but gave back the gains in order to form a shooting star.
Ahead of an important testimony by Federal Reserve Governor Jerome Powell, the USD/JPY is trying to correct upwards, but with limited gains that reached the 104.35 level at the time of writing.
The US dollar initially fell during the trading session on Monday, breaking below the ¥104 level before turning around to rally rather significantly.
The US dollar has been selling off in the Forex market, as investors abandon it as a safe haven amid news of coronavirus vaccines and Trump’s initiation of a transition to Biden.
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The US dollar fell slightly during the trading session on Friday, breaking down below the ¥104 level.
The US dollar has pulled back just a bit during the trading session on Thursday, but you should keep in mind that it was Thanksgiving in the United States so liquidity could have been a major issue.
The USD/JPY did not benefit much from investor risk appetite, as gains since the beginning of trading this week did not surpass the 104.76 resistance level and settled around 104.40 at the time of writing.
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The AUD/JPY has again seen bullish activity the past few days as the Forex pair knocks on the door of important resistance levels not genuinely traded since September.
The US dollar fluctuated during the trading session on Wednesday against the Japanese yen, but as we head towards the Thanksgiving holiday, traders are starting to drift away from their trading screens.
For three trading sessions in a row, the USD/JPY pair has been trying to correct to the upside.