The USD/JPY currency pair is a major currency pair in the global Forex market. It's also known as the “Gopher” due to its tendency to nibble away at profits and capital. The USD/JPY is especially impacted by economic and political events, such as changes in interest rates, inflation, geopolitical developments and the health of the Japanese economy. As a result, it is one of the most volatile currency pairs in the Forex market and requires careful analysis of economic data from both countries to predict its movements.
The Japanese Yen is one of the most popular currency pairs for traders, due to its low cost when compared to other currencies and its relationship with the global economy. As a result, it is considered an important part of any diversified portfolio.
The USDJPY currency pair, which tracks the relative value between the United States Dollar and the Japanese Yen, has been in existence since 1971. Since then it has experienced periods of great volatility with its highest point being reached in Feb 1985 at 261.6 and its lowest point being reached in November 2011 at 76.87. Though there have been periods of relative stability, the pair has seen its fair share of wild swings in price. As a result, it can be an attractive asset for traders looking to capitalize on market volatility. It is also an important pair for those looking to hedge their portfolios against currency risk.
The USDJPY pair has been particularly susceptible to the political and economic conditions of both countries, as well as global factors such as risk sentiment. As a result, the performance of this pair has often mirrored the performance of other major currencies such as the Euro and the British Sterling. In recent years, this pair has been especially sensitive to economic news coming out of Japan, as well as central bank policy decisions related to both countries.
The US dollar and Japanese yen are two of the most traded currencies in the world, making it easy to find trading opportunities regardless of market conditions. For example, when the US dollar weakens against the Japanese yen, traders have an opportunity to buy the USDJPY currency pair and potentially profit from the appreciation of the yen. However, traders should also be aware of the risk associated with trading this currency pair. Like any other pair, USDJPY can experience high levels of volatility which can lead to losses if not managed properly.
In addition to USDJPY, traders should take note of the other currency pairs available in the forex market. There are dozens of major, minor and exotic currencies, providing a variety of trading opportunities from which to choose. Some popular pairs include EURUSD, GBPJPY and EURAUD.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.