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 was all over the place during the trading session on Tuesday as we continue to see a lot of choppiness against the Japanese yen.
Risk appetite and the USD recovery were strong factors in a long-awaited upward rebound for the USD/JPY.
The US dollar rallied quite nicely against the Japanese yen during the trading session on Monday, as there was a surge into the greenback due to Brexit headlines that had people covering the euro and the pound.
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It seems from the USD/JPY's last three trading sessions on the daily chart that bearish exhaustion is taking the pair to stronger descending levels.
The US dollar rallied slightly during the trading session on Friday, reaching towards the ¥104 level.
The US dollar initially tried to rally during the trading session on Thursday, breaking above the ¥104 level.
USD/JPY's loss bleeding didn’t stop, and the pair stabilized around the 103.65 support.
The US dollar has broken down below the ¥104 level, which is a large, round and psychologically significant figure that has offered support in the past.
All the gains from the bullish rebound in the USD/JPY pair during the trading week are on the verge of collapsing as it moved towards the 103.85 support, at the time of writing.
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While Japan reports relatively acceptable new COVID-19 infections for its population size, it also carries out significantly fewer tests than its global counterparts in the developed world.
The US dollar was broken down significantly during the course of the session on Tuesday, reaching down towards the ¥104 level.
The USD/JPY downward momentum performance continued for the third day in a row, even amid positive announcements about the successes of COVID-19 vaccines.
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Sign up to get the latest market updates and free signals directly to your inbox.The US dollar tried to rally during the trading session on Monday but continues to see a lot of noise near the ¥105 level.
The US dollar quickly rose again against major currencies after market pricing Biden’s victory in the US elections and the announcement of the the COVID-19 vaccines successes, relieving pressure on markets and investors.
The US dollar broke down against the Japanese yen during the trading session on Friday, breaking down significantly below the ¥105 level.