Trade USD/JPY Forex | Live Prices & Trading Insights

Why trade USD/JPY currency pair with Tradu?

Tight spreads

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USD/JPY overview

Nicknamed 'the gopher', the USD/JPY is the second most popular of the major currency pairs, just behind the EUR/USD (the euro and US dollar). The USD/JPY has a 13.5% share of all daily forex transactions.

The USD/JPY is known for its high liquidity. This is largely down to the popularity and importance of the two currencies. As well as being the most commonly traded currency in the world, the US dollar is the world’s reserve currency. This means it is held by central banks for investments, transactions, and, significantly, influencing the exchange rate. The yen is also highly regarded thanks to it being the most heavily traded currency in Asia.

What affects the USD/JPY?

When trading the USD/JPY currency pair, it's worth understanding the fundamental factors that affect both currencies. This will help with your analysis before you begin trading.

What affects the USD?

The factors that impact the USD include:

The economy: The US' GDP, employment levels, inflation rates, and trade with other countries all impact the USD. It also affects the wider forex market, given that USD appears in all the major currency pairs.
The Federal Reserve: Also known as the 'Fed', the United States' central bank is responsible for setting interest rates and acts as a regulator for the country's financial markets. Whenever updates about the economy are released by the Fed, it's common for the USD's value to shift in line with the contents.
Political events: Major political events, such as US presidential elections and developments like the ongoing war in Ukraine, can also impact the value of the USD.

What affects the JPY?

The factors that impact the JPY include:

The Tankan Survey: As with the Fed's regular financial updates in the US, Japan's equivalent causes fluctuations in the national currency's value. The Bank of Japan releases the Tankan Survey once a quarter. This is an assessment of business conditions in Japan. Here, the nation's influential companies take part in a survey and the bank uses the results to work out the monetary policy.
Bank of Japan: The Bank of Japan is the country's central bank and it intervenes when necessary to maintain the yen's value. For instance, it will sell the yen to keep the value low.
Trade deals: Japan trades globally, with major output from the country's car industry and electronic goods companies.

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