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.
With renewed US-Chinese trade tensions, and with both US dollar and Japanese Yen are considered safe-haven currencies, that helped the USD / JPY break back to the 109.02 support level, the lowest level for more than 3 months,
The US dollar initially tried to rally during the trading session on Friday, but as the jobs number came out sold off rather hard to reach down towards the bottom of the hammer from the Wednesday session.