USD/JPY


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US DOLLAR / JAPANESE YEN Trading

The USD/JPY exchange rate is one of the most liquid and traded currency pairs in the world and tends to have a positive correlation with USD/CHF. The USD/JPY is the abbreviation used to denote the currency exchange rate for the US dollar and Japanese yen. A trader can choose to trade USD/JPY with either a forex contract or they can trade a contract for difference (CFD) on a specific pair and speculate on the price difference.

History of USD JPY Trading

The USD dates back to 1792, when the United States Congress created the US dollar as the official country’s currency. It serves as legal tender in many countries, and it is the most widely used currency in the world both in circulation and reserve. The US dollar form the majors as it pairs with all main currencies in the foreign exchange market (forex). The Japanese yen is the 3rd most traded currency in the world and the 4th reserve currency after the pound sterling, euro and the US dollar. The yen was officially adopted in 1871 and as such has a complex and rich history compared to other currencies relatively newer around the world. The value of the Japanese yen has considerably grown due to the strong Japanese industrial complex with a thriving industry consisting of technological developments, agricultural innovation, and a wide range of exportable products.

USD/JPY Trading FAQs

While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the USD/JPY whenever the currency pair is more volatile. From 08:00 to 17:00 GMT., the USD/JPY will continue to be the most acceptable time to day trade, regardless of whether daily volatility increases or decreases.

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Source - database | Page ID - 5638

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