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.
A new, more contagious strain of the coronavirus and new restrictions on global economic activities ahead of the holiday season led to new investor flight from risk and the beginning of new gains for safe havens.
The USD collapse continued amid the weak performance of the US economy, the stumbling of stimulus negotiations and the wave of risk appetite that dominates global financial markets with the beginning of COVID-19 vaccinations.
The US dollar initially tried to rally during the trading session on Wednesday, but then fell hard as we try to crash through the support level that has been so important for the last several weeks.
The US dollar initially fell a bit during the trading session on Monday to break down significantly through the ¥104 level, which is an area that has been massive support extending down to the ¥103.70 level.
For several trading sessions in a row, and in a process that extended for more than a month, the USD/JPY price has been moving under downward pressure.
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