USD JPY (US Dollar / Japanese Yen)
Also known as trading the “gopher” the USDJPY pair is one of the most traded pairs in the world. The value of these currencies when compared to each other is affected by the interest rate differential between the Federal Reserve and the Bank of Japan.
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The Japanese yen took control over its near-term future as it kept chipping away at the dollar’s dominance.
The USD/JPY pair reversed course just as it hit a long-term indicator (it’s the 200-day SMA.)
Trading just got technical as a major indicator has proven its validity (at least for the time being.)
The dollar activated beast mode, crushing the yen on the way to dominance.
The yen is falling while other major currencies show resilience against the dollar.
The Japanese yen has erased a notable chunk of its gains over the past month.
The greenback soared against a basket of currencies, especially the yen.
Japan’s currency is moving sideways against the dollar ahead of key Fed decision.
The Bank of Japan took some out-of-the-blue action on its 10-year bonds, which sent the yen on a trip up the charts.
You know what they say: if at first you don’t succeed, try try try again. But Japanese officials are wondering exactly how many tries it takes after another intervention fails.
Strength in the dollar continues to squeeze currencies from around the world, with the yen’s descent into darkness prompting emergency bond-buying in Japan.
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