Currency & Pairs
Beginner
USD/JPY
Also called: USDJPY, Dollar Yen, Gopher
US Dollar vs Japanese Yen — one of the three deepest-liquidity pairs.
Definition
USD/JPY is the standard yen pair and a key risk-on/risk-off barometer (yen tends to strengthen during global stress). BoJ’s yield-curve-control policy makes it especially sensitive to US-Japan yield differentials.