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.
Most Recent
The US dollar fell against most of the other major currencies at the end of last week, after economic data showed a decline in US consumer confidence in August.
The US dollar fell after the release of US inflation data that indicated that inflationary pressure may be temporary, thus easing pressure on the Federal Reserve to tighten monetary policy.
Expectations of an increase in US interest rates helped boost the US dollar against the rest of the other major currencies.
The bulls have pushed the USD/JPY above the 110.35 resistance, where the pair is stabilizing as of this writing.
The USD/JPY has been recovering strongly, most recently reaching the 110.35 resistance level.
After a strong bearish momentum recently, the price of the USD/JPY currency pair pushed down to the 108.72 support level, the lowest in more than two months.
The bears completed the last downside path of the USD/JPY currency pair, as they succeeded in breaching the important support level 108.88.
The downward pressure is still on the performance of the USD/JPY currency pair, as it settled in the beginning of August.
The USD/JPY continues to see a substantial bearish track displayed and current price value is within sight of mid-term support not touched since late May.
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In the last two trading sessions of last week, the price of the USD/JPY currency pair remained stable below the psychological resistance level of 110.00.
The US Federal Reserve indicated that the Corona variable threat to the economic performance of the USA weakened the price of the US dollar against the rest of the other major currencies.
Investors temporarily abandoned buying the US dollar until they stand on the monetary policy decisions of the US Federal Reserve.
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Sign up to get the latest market updates and free signals directly to your inbox.The price of the USD/JPY currency pair is clinging to stability around the psychological resistance level of 110.00 with the beginning of this important week’s trading.
US Dollar and the Yen strength was negatively affected by raising fears of the rapid spread of the Corona Delta variable in sports delegations,
Investors' sentiment improved slightly, which gave the USD/JPY the opportunity to correct upwards, reaching the resistance level of 110.38.