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.
The US dollar encountered a mixed bag of market movements during Wednesday's trading session, with investors eagerly awaiting the outcomes of the Federal Open Market Committee (FOMC) meeting.
The continued discrepancy between the US Central Bank’s strict policy and the Bank of Japan will continue to support the upward trend of the US dollar against the Japanese yen (USD/JPY).
This week, the dollar/yen pair will be watched closely with the announcement of the policies of both the US Federal Reserve Bank and the Japanese Central Bank.
The USD/JPY exhibited a notable rally during the recent trading session, inching closer to the formidable ¥147.80 level, a significant hurdle in the current landscape.
The gains of the Japanese yen quickly evaporated after the comments of the Governor of the Bank of Japan before the start of trading.
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