USDJPY and the most important factors that affect the trading of this currency pair


The main currency pair, the US dollar and the Japanese yen, USDJPY, is called “Gopher” or “Ninja”, and it occupies the second position in the most popular and popular currency pairs in the world, with a daily trading ratio of about 17% of global trading volume throughout the day. The third at the global level after the United States and China and depends mainly on exports, the majority of which go to the United States. Therefore, the trading of the US dollar and the Japanese yen is of wide interest to many investors.

The BoJ is tightly controlled by the Tokyo Stock Exchange which creates great opportunities for traders to trade the USDJPY pair successfully, but it is important to know the basics of the Japanese economy and what influences it has.

What are the factors that affect the Japanese economy?

The high rates of investment and savings in Japan mainly affect the Japanese economy, because it indicates the extent of the spread of Japanese investment portfolios around the world, in addition to the deepening of Japan's relations with other global markets.

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The Central Bank of Japan controls the foreign exchange market, either directly or indirectly, as the bank issues a final statement every month on monetary policy and the variables that have taken place on interest rates and monetary policy, followed by a press conference for the president of the bank explaining the relevant reasons that prompted the bank to take decisions Through this decision, we can determine and evaluate the direction of the Japanese economy, and this is a clear indication of the central bank's intervention in the Japanese yen exchange rate.

Japanese economic data and indicators and statements mainly affect currency trading, and these indicators are represented in the Tokyo Core Consumer Price Index, the Gross Domestic Product, the current account “the difference between the rate of exports and imports” and the trade balance “the difference in the value of imported and exported goods and commodities.” These data and indicators are considered The economy is a strong driver of currency prices, so it is necessary to follow these indicators as they are released.

On the other hand, you should follow the US economic data as well, which includes retail sales, monthly employment data, interest rate decisions and inflation data, which includes the consumer price index, the producer price index and the purchasing managers’ index of many sectors that make up the basics of the economy.

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Mohamed Abdel Khaleq

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