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 price of the USD/JPY currency pair moved at the beginning of the new week's trading with upward gains to the resistance area 115.43 and settled around the 115.06 level at the time of writing the analysis.
In the last two trading sessions of last week, the price of the USD/JPY currency pair moved higher with gains to the level of 115.43 before closing trading stable around the level of 115.18.
For four consecutive trading sessions, profit-taking continues for the USD/JPY currency pair, which is possible until the US job numbers are announced at the end of the week.
Since the start of trading this week, the price of USD/JPY has been subjected to profit-taking after the storm of support for the dollar passed by the US Federal Reserve.
At the end of last week’s trading, the price of the USD/JPY currency pair moved amid bearish momentum, which subsequently moved towards the 113.46 support level
USD/JPY price did not do much by testing the psychological resistance 115.00 at the beginning of last week’s trading, as the Japanese yen returned to reap the gains.
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