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US Dollar/Japanese Yen (USD/JPY)
Written by Aboutcurrency
THE USD/JPY rate is composed of the US Dollar "base currency" and the Japanese Yen "quote currency".
The US Dollar/Japanese Yen rate reflects the relation of the US Dollar trading against the Japanese Yen (1 USD per x JPY). For instance, If the USD/JPY quotes at 77.70, then 10,000 US Dollars would equal 770,000 Japanese Yen (because 10,000 x 77.70 = 770,000). This simply means that 1 US Dollar buys you 77.70 Japanese Yen.
Trading Characteristics Of The USD/JPY
- One of the most traded currency pairs on the spot market (17%).
- Typical forex broker spread: 1-3 pips
- Most active trading sessions: Tokyo, London and New York
- 5 Year Average Daily Range: 116 pips
- Who trades the US Dollar vs Japanese Yen? Central banks, financial institutions, retail traders,...
USD/JPY Forex Trading Tips:
- Recommended level of forex experience: Beginner
- Best trading sessions for daytraders: London and New York
- Worst times to trade: Holidays and before major economic news events
- Most common used USD/JPY forex charts: Daily, 4 Hour and 1 Hour
- Best forex brokers to trade USD/JPY: Click here >>>
- Forex trading strategies to trade Dollar Yen: Click here >>>
- Best forex trading system to trade Dollar Yen: Click here >>>
US Dollar / Japanese Yen Historical Chart
Top 5 Economic Events That Move USD/JPY
FOMC Rate Decision + Press Conference
BOE Rate Decision + Press Conference
US Employment (Non Farm Payrolls)
BoJ Monetary Policy Meeting
Tankan Survey
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