US Dollar / Japanese YenUSD/JPY

USD/JPY shows how many Japanese yen one US dollar is worth, and is one of the most liquid currency pairs in the world. It is closely tied to the interest-rate gap between the US Federal Reserve and the Bank of Japan, and the yen is often treated as a safe-haven currency that strengthens when markets are fearful. The pair is most active during the Tokyo and New York sessions and can move sharply around central-bank announcements. Trade it with a defined risk plan, as leverage amplifies losses.