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 Federal Reserve’s determination to move towards tightening its monetary policy still supports the US dollar against the rest of the other major currencies.
The US dollar is continuing to enjoy upward momentum amid expectations of raising US interest rates soon and investors abandoning the Japanese yen until the selection of the new Japanese prime minister.
Despite the Federal Reserve's clear indications to tighten its monetary policy, the USD/JPY remained stable in a range between the 109.11 support and the 109.92 resistance, where it has settled as of this writing.
A slight reversal higher in early USD/JPY trading this morning has been demonstrated, but short-term speculators should still consider the larger trend.
Amid bearish pressure and sell-offs, the USD/JPY pair will see the US Federal Reserve's policy decisions today.
For quite some time, the USD/JPY has been trying to break through the 110.00 resistance level, which is crucial for a bullish performance and to avoid a crash.
The USD/JPY is still trying to break through the 110.00 psychological resistance to complete the upward correction.
Since the beginning of the week, the USD/JPY has settled around the 110.00 psychological resistance, also hitting the 110.45 resistance and settling around 110.05 as of this writing.
The USD/JPY has settled around the 110.00 psychological resistance as USD pairs anxiously await the US jobs numbers tomorrow.
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The markets are awaiting the US job numbers, which may confirm Fed Chairman Jerome Powell's recent warning, or support expectations of a tightening of the bank's policy.
Even with a US dollar weakened by the Fed's comments at the Jackson Hole Symposium, the USD/JPY did not experience strong losses as did the other US dollar pairs.
The USD/JPY tried to settle above the 110.00 psychological resistance throughout last week's trading ahead of the Jackson Hole Symposium.
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Sign up to get the latest market updates and free signals directly to your inbox.The US dollar is preparing to move against the rest of the other major currencies ahead of the Jackson Hole Symposium after allowing them in recent days to achieve some gains.
The USD/JPY has been moving in a narrow range, with markets and investors awaiting the Jackson Hole Symposium.
The USD/JPY will remain unstable until the much-anticipated Jackson Hole Symposium later this week.