Trade USD/JPY - USD CFD
¥157.765
+0.13% (0.20)
USD Price Chart
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*Past performance is not an indication of future results
High: 158.060
Low: 157.614
Trader sentiment:
Sellers: 55.0%
Buyers: 45.0%
Market trading hours
Open now
Sun 22:05 - Fri 21:00
What is USD/JPY?
USD/JPY is the exchange rate between the US dollar and the Japanese yen, one of the world's most heavily traded currency pairs thanks to the size and liquidity of both economies' government bond markets. Price action is driven primarily by the interest-rate gap between the Federal Reserve and the Bank of Japan, which kept rates near zero for decades while the US tightened aggressively, making USD/JPY a classic carry-trade barometer. Beyond rate policy, the pair reacts to US Treasury yields, Japanese trade data, and periodic intervention by Japanese authorities when the yen weakens sharply.
Trading Conditions
- Minimal Spread
- 0.018
- Typical Spread
- 0.0205
- Overnight funding swap buy
- -0.01371%
- Minimum trade size / value
- 1000 Units
- Commission
- 0%
- Max Leverage (1/margin%)
- 1:400
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Frequently asked questions
What are USD/JPY trading hours?
USD/JPY trades 24 hours a day on weekdays across global forex sessions, with the highest liquidity during the Tokyo, London, and New York overlaps.
Is USD/JPY volatile?
USD/JPY can be volatile, particularly around Bank of Japan policy decisions and any hint of currency market intervention.
What advantages does iFOREX offer for USD/JPY trading?
iFOREX offers real-time pricing, flexible order types, and access to USD/JPY alongside other major currency pairs from one account.
What is USD/JPY?
USD/JPY is the exchange rate between the US Dollar and the Japanese Yen, and one of the most actively traded currency pairs globally.
How do you trade USD/JPY?
USD/JPY is typically traded via CFDs that track the exchange rate, allowing traders to speculate on price direction without exchanging physical currency.
What is the best time to trade USD/JPY?
Liquidity is generally highest during the Tokyo and New York session overlap, and around Bank of Japan or Federal Reserve policy announcements.
What factors influence USD/JPY's price?
The Fed-BOJ interest-rate differential, US Treasury yields, Japanese trade data, and intervention risk from Japanese authorities are among the biggest drivers of USD/JPY.
How does Bank of Japan intervention affect USD/JPY?
Direct intervention by Japanese authorities to support the yen has historically triggered sharp, rapid reversals in USD/JPY when yen weakness accelerates too quickly.
Is USD/JPY suitable for carry trade strategies?
The historical interest-rate gap between the US and Japan has made USD/JPY a pair traders have used for carry trade strategies, though this carries its own risks.
How does US monetary policy affect USD/JPY?
Federal Reserve interest-rate decisions and forward guidance directly affect the rate differential with Japan, making Fed policy one of the most closely watched USD/JPY drivers.
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