The US dollar has gone back and forth during the trading session on Wednesday as we continue to see a lot of inconsistencies as to where risk appetite may go.
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 initially tried to rally during the trading session on Tuesday but fell again, to reach down towards the ¥104.50 level.
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Despite the USD strength against the rest of other major currencies, it remained under downward pressure against the Japanese yen.
The US dollar rallied a bit during the trading session on Monday to test the ¥105 level, before pulling back just a bit.
Last week’s transactions were harsh for the USD/JPY, as the pair collapsed towards the 104.34 support, the lowest level for more than a year
The US dollar has gone back and forth during the trading session on Friday as we closed out the week.
The US dollar rallied a bit during the trading session on Thursday, as it looks like we are going to go looking towards the ¥105 level.
In recent USD/JPY technical analysis, we noted that the limited and narrow movement within price limits for several trading sessions in a row heralds an upcoming strong move.
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The US dollar got hammered during the trading session on Wednesday, slicing through the ¥105 level like it was not even there.
The pressure on the US dollar has returned again, and therefore it has retreated against the rest of other major currencies.
The US dollar rallied a bit during the trading session on Tuesday, reaching towards the 50 day EMA
For three trading sessions in a row, the USD/JPY has been moving in a narrow range between the 105.18 support and the 105.60 resistance, where it is stable around at the time of writing.
The US dollar rallied slightly during the trading session on Monday to kick off the week, as we have broken above the ¥105.50 level but gave back the short-term gains.
Risk aversion and the mixed US economic results was a catalyst for the USD/JPY pair to move downwards towards the support level at 105.03, before closing last week’s trading around 105.40.