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
Reactive USD/JPY selling took place last night as the U.S Federal Reserve released its FOMC Statement and financial institutions sold the USD/JPY with solid price velocity.
The US dollar's behavior in the USD/JPY pair is currently influenced by the anticipation of the FOMC meeting and the subsequent press conference.
Risk aversion was in favour of a downward correction for the USD/JPY pair, with losses extending to the support level of 147.08 before.
The US dollar initially experienced a decline against the Japanese yen on Tuesday, but later rebounded from a well-established support level.
USD/JPY Stays Neutral, Awaits Fed and Jobs Data.
The direction of the USD/JPY pair will be closely tied to the developments in the interest rate markets.
The USD/JPY pair is stabilizing higher around the 148.33 resistance level at the time of writing.
The US dollar rallied a bit during the trading session on Friday as the ¥147.33 level continues to offer a significant amount of support.
The US dollar has gone back and forth during the trading session on Thursday as we are hanging around the crucial ¥147.33 level.
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Before wild bets on downside are placed by traders they should consider what they are up against today and tomorrow.
The general trend of the USD/JPY pair is still bullish.
According to recent forex market trading, the Japanese yen has strengthened with expectations of rising interest rates from the Bank of Japan in the future.
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Sign up to get the latest market updates and free signals directly to your inbox.The general trend for the USD/JPY pair is still upward.
I believe that this is a market that will eventually have to figure itself out from a longer term perspective, but right now it just looks a bit heavy.
It appears that the USD/JPY pair is trading within an upward channel.