The USD/JPY pair jumped to the 104.20 resistance level after a downward stability around the 103.58 support level before the announcement of the Federal Reserve's monetary policy.
Technical Analysis
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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Technical Analysis
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Technical Analysis
Despite the improvement in US consumer confidence, the USD/JPY remains stable around the 103.60 support level.
Technical Analysis
The USD/JPY pair tried but failed to breach the 104.00 resistance at the beginning of this week's traing, instead settling around 103.70 and losing enough momentum to reverse the general trend.
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The USD/JPY currency pair is trying to correct higher, but attempts to rebound to the upside are still weak.
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With the inauguration of President Joe Biden and the end of the Trump era, which had brought unprecedented economic success to the US, the USD still received some support, though likely temporary.
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The US dollar fell against most other major currencies as risk sentiment improved in the market amid hopes of further economic stimulus.
Technical Analysis
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The USD/JPY began the week on a bearish note as it plunged to the 103.63 support level, remaining near it at the beginning of today's trading.
Technical Analysis
The USD/JPY pair has been moving in a narrow range between the 103.56 support level and the 104.19 resistance level, stabilizing around the 103.82 level at the beginning of this week's trading.
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The USD/JPY pair regained its bearish momentum at the beginning of Thursday's trading, falling from the 104.40 resistance level to stabilize around the 103.60 support level.
Technical Analysis
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Continuing its bearish outlook, the USD/JPY pair moved down to the 103.72 support level, after attempts to correct upwards to the 104.40 resistance level.
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For five trading sessions in a row, the USD/JPY pair is in an upward correction range that moved towards the 104.40 resistance level before settling around 104.10.
Technical Analysis
The USD/JPY pair tried to rebound upward during the last trading session, but the bounce's gains did not exceed the 104.10 resistance level, and the pair stabilized near it.
Technical Analysis
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The USD/JPY tried to correct to the upside for the second day in a row, but the bounce gains did not exceed the level of 103.44 and it stabilized around the level of 103.18 as of this writing.
Technical Analysis
The USD/JPY has endured a long bearish trend and its value today is hovering above critical support levels.
Technical Analysis
The US dollar is still suffering from low risk appetite, as investors await the release of US unemployment numbers and the minutes from the recent meeting of the Federal Reserve.
Technical Analysis