Markets · Forex
USD/JPY: News, Analysis & Educational Trade Ideas
US dollar / Japanese yen · latest OpenBook briefings, educational trade ideas and a plain-English guide to what moves this market.
What is USD/JPY?
USD/JPY is the exchange rate between the US dollar and the Japanese yen, showing how many yen one dollar buys. It is one of the most traded currency pairs and a key gauge of the gap between US and Japanese interest rates.
The yen has a long reputation as a safe-haven currency, so USD/JPY can move sharply when global markets turn risk-averse. Japanese authorities have also intervened in the currency market at times to slow fast yen moves.
What drives USD/JPY
- The difference between US Treasury yields and Japanese government bond yields.
- Bank of Japan policy decisions and any change in its approach to interest rates or bond buying.
- Federal Reserve policy and US data such as inflation and jobs reports.
- Risk sentiment and safe-haven demand for the yen, plus the possibility of official intervention.
Trading hours and sessions
USD/JPY trades 24 hours a day on weekdays. It is active during the Tokyo session (Asian hours, evening in New York) and again during the New York session, when US data and Treasury yields move.
Check live quotes on the OpenBook markets board. Hours shown in US Eastern Time (ET) and may shift around holidays and daylight-saving changes.
USD/JPY FAQ
Why does USD/JPY follow US Treasury yields?
Higher US yields relative to Japanese yields tend to make the dollar more attractive than the yen, so the pair is closely linked to the interest-rate gap between the two countries.
Is the yen a safe haven?
The yen has historically tended to strengthen during periods of market stress, although that relationship does not always hold.
Can US residents trade USD/JPY?
Yes, through a retail forex dealer or futures commission merchant that is registered with the CFTC and is a member of the NFA. US rules cap retail leverage at 50:1 on major currency pairs and 20:1 on other pairs, and CFDs are not available to US retail clients.
Are OpenBook USD/JPY trade ideas signals or investment advice?
No. OpenBook trade ideas are algorithmic, educational market ideas generated from public price data. They are not recommendations to buy or sell, do not consider your personal circumstances and are not investment advice. Some idea details are reserved for OpenBook Pro.