Major pair · “Gopher”
USD/JPY: volatility, trading hours and correlation
🇺🇸 US dollar against the 🇯🇵 Japanese yen. USD/JPY has averaged 82 pips a day over the last 90 days, with recent volatility above its one-year norm. It tends to move most between 13:00 and 16:00 UTC.
- Last close
- 158.164 6 October 2026
- Avg daily range
- 82 pips 90 days · 0.52% of price
- 1-year change
- +5.21% USD stronger vs JPY
- 52-week range
- 149.407 – 163.979 Low to high
USD/JPY over the last 12 months
Daily closes
When USD/JPY moves most
Average high-to-low range for each hour of the day over the last year, in pips (UTC). The busiest three-hour window is highlighted.
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Average range by weekday
Pips, last 12 months. Wednesday is typically busiest and Monday quietest.
Calendar-year performance
% change in USD/JPY each year, latest year to date
USD/JPY seasonality
Average % change by calendar month across the last 9 years. June has been the strongest month on average and July the weakest. Seasonality is a tendency, not a forecast.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg change | -0.59% | +0.75% | +0.41% | +0.94% | +0.06% | +1.66% | -0.95% | -0.14% | +1.43% | +1.64% | -0.83% | -0.71% |
| Years up | 44% | 67% | 33% | 56% | 44% | 89% | 33% | 44% | 78% | 67% | 44% | 44% |
USD/JPY correlation
Correlation of daily returns with other pairs. +1 means they move together, −1 means they move in opposite directions. How to use correlation.
Biggest daily moves in the last year
The five widest high-to-low days for USD/JPY.
| Date | Range | Open to close | × normal day |
|---|---|---|---|
| 29 July 2026 | 574 pips | +0.03% | 6.2× |
| 29 April 2026 | 515 pips | -0.01% | 5.5× |
| 2 September 2026 | 360 pips | +0.01% | 3.9× |
| 5 May 2026 | 284 pips | +0.01% | 3.1× |
| 30 October 2025 | 226 pips | 0.00% | 2.4× |
USD/JPY pip value
Value of a one-pip move (0.01) at the latest price.
| Account currency | Standard lot (1.00) | Mini lot (0.10) | Micro lot (0.01) |
|---|---|---|---|
| 🇺🇸 USD | 6.32 USD | 0.63 USD | 0.063 USD |
| 🇪🇺 EUR | 5.61 EUR | 0.56 EUR | 0.056 EUR |
| 🇬🇧 GBP | 4.76 GBP | 0.48 GBP | 0.048 GBP |
| 🇯🇵 JPY | 1000.00 JPY | 100.00 JPY | 10.000 JPY |
About USD/JPY
USD/JPY shows how many Japanese yens (JPY) it takes to buy one US dollar (USD). When the price rises, the US dollar is strengthening against the Japanese yen. Traders often call it “Gopher”.
USD is issued by the Federal Reserve. It tends to respond to Federal Reserve rate expectations, US jobs and inflation data, and global risk appetite, since the dollar is the world’s main reserve and funding currency.
JPY is issued by the Bank of Japan. It tends to respond to Bank of Japan policy, the gap between Japanese and US bond yields, and risk sentiment, as the yen often strengthens in risk-off markets.
With an average range of about 82 pips a day, a stop loss of 25–49 pips is roughly a third to two-thirds of a normal day for USD/JPY. Always size your position from the stop distance with the lot size calculator.
USD/JPY FAQ
What is the average daily range of USD/JPY?
Over the last 90 days USD/JPY moved an average of 82 pips from high to low each day, about 0.52% of its price. Over the past year the average was 93 pips, and over the last 20 trading days it was 120 pips.
What is the best time to trade USD/JPY?
In the past year USD/JPY was most active between 13:00 and 16:00 UTC, and the London session produced the largest average range (74 pips). The quietest hour was 21:00 UTC. Wednesday was its busiest weekday on average.
What is USD/JPY most correlated with?
Based on daily returns over the last year, USD/JPY moved most closely with CAD/JPY (correlation 0.85) and most inversely with EUR/USD (-0.55).
How much is one pip worth on USD/JPY?
One pip on USD/JPY is 0.01 of the price. For one standard lot (100,000 USD) that is 1,000 JPY, or about $6.32 at the latest price. A mini lot is a tenth of that and a micro lot a hundredth.
Statistics are calculated by ForexSignals.io from daily and hourly price history up to 6 October 2026. Hourly figures cover the last 12 months, seasonality the last 9 full years. Data may contain errors and is not a trading recommendation.
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