USD/JPY Also known as trading the gopher the USDJPY pair is one of the most traded pairs in the world. The value of these currencies when compared to each other is affected by the interest rate differential between the Federal Reserve and the Bank of Japan.
USD/JPY is the forex ticker that shows the value of the US Dollar against the Japanese Yen. It tells traders how many Yen are needed to buy a US Dollar. The Dollar-Yen is one of the most traded forex pairs – second only to EUR/USD – and is a benchmark for Asian economic health and even the global economy. View the live Dollar-Yen rate with the USD/JPY chart and improve your technical and fundamental analysis with the latest USD/JPY forecast, news and analysis.
The yen is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the Euro. It is also widely used as a reserve currency after the U.S. dollar, the Euro, and the U.K. pound sterling.
- Name: Japanese Yen
- Symbol: ¥ Sen: sen
- Minor Unit: 1/100 = Sen
- Central Bank Rate: -0.10
- Inflation: 0.50%
- Coins: Freq Used: ¥1, ¥5, ¥10, ¥50, ¥100, ¥500
- Banknotes: Freq Used: ¥1000, ¥5000, ¥10000, Rarely Used: ¥2000
- Central Bank: Bank of Japan, Website: boj.or.jp
The Japanese Yen is the third most traded currency in the world, and the most heavily traded currency in Asia. Due to its relatively low interest rates, the Japanese Yen is often used in carry trades with the Australian Dollar and the US Dollar. A carry trade is a strategy in which a currency with low interest rate is sold in order to buy a currency with a higher interest rate.
The Japanese Yen is the third most commonly traded currency in the world after the US Dollar and the Euro. The Japanese Yen is the national currency for the nation of Japan, which has the third largest national economy in terms of Nominal GDP. Japan is a unique economy, with large manufacture and export of automobiles and electronic goods. The nation is usually considered one of the most innovative in the world, and with the recent rise of Chinese and South Korean manufacturing Japan has begun to focus on high-tech and precision goods.