USD/JPY forex chart shows the value of the US Dollar against the Japanese Yen. Trading this currency pair is also known as trading the “ninja” or the “gopher”, although this last name is more frequently used when reffered to the GBP/JPY currency pair. The organizations that most impact the USD/JPY are the Federal Reserve of the United States and the Bank of Japan (BoJ).
Since much of the Eastern economy moves according to Japan, the Yen is quite sensitive to factors related to Asian stock exchanges. 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.
Because of the interest rate differential between this currency and other major currencies that preponderated for several years, it is also sensitive to any change affecting the so-called “Carry Trade”.