The US dollar initially fell a bit during the trading session on Monday to break down significantly through the ¥104 level, which is an area that has been massive support extending down to the ¥103.70 level.
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 several trading sessions in a row, and in a process that extended for more than a month, the USD/JPY price has been moving under downward pressure.
The US dollar fell a bit during the trading session on Friday to break down below the ¥104 level, but we have recovered that level yet again.
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The US dollar rallied initially during the trading session on Thursday, reaching towards the 50-day EMA.
For three trading sessions in a row, the USD/JPY currency pair has been trying to correct upwards.
The US dollar continues to do very little against the Japanese yen, although the session on Wednesday was slightly positive.
Stability around and below the 104.00 support level continues to fuel the survival of the USD/JPY in the range of a sharp downward channel.
With nearly non-existent movement, the USD/JPY had a weak performance at the beginning of this week’s trading.
The US dollar had initially rallied during the trading session on Monday, but then turned around to show signs of exhaustion.
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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.
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.