The Tokyo Trading session opened at 06: 00 am GMT + 7, marks the beginning of the trading session in Asia. With its position as the financial capital of Asia, made everyone call session Tokyo Asian session.
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Also known as the Asian Tigers because of its economic progress, in the world of trading Japan also known as Forex trading center, the third largest in the world.
The Yen is the currency of Japan is the third most commonly used by traders, taking 16: 50% portion of the overall Forex transactions around the world. Meanwhile, about 21% of the world's Forex transactions occur at this session.
Below is a range of major currency pair pips on Asian session:
| Pair | Tokyo |
|---|---|
| EUR/USD | 56 |
| GBP/USD | 54 |
| USD/JPY | 30 |
| AUD/USD | 65 |
| NZD/USD | 58 |
| USD/CAD | 39 |
| USD/CHF | 40 |
| EUR/JPY | 57 |
| GBP/JPY | 72 |
| AUD/JPY | 65 |
| EUR/GBP | 23 |
| EUR/CHF | - |
Pip value on the table above based on a calculation using the data in 2012.
"What Is It? Already ancient once "
Hey, quiet ... None of the digits of the value of the absolute and pip can be different, depending on the liquidity and the condition of the market situation at the time. Jam it, range for the EUR/CHF are not listed because at the moment the Franc is at a fixed benchmark Switzerland 1.2000 against the Euro.
The Basic Characteristics Of The Tokyo Session:
- Action Forex is not only limited to residents of the region who was fond of eating raw fish alone. Many Forex transactions that occur in other Asian countries. For example, such as Hong Kong, Singapore and Sidney.
- Most of the actors who play on Forex session Tokyo is a commercial company (exporter) and the central bank. "Why is it so? If other market participants were asleep? "Haha ... No. The reason is that Japan's economy is dependent on the export sector, and with China as other major players, so there are many transactions that occur on this session.
- Liquidity on these sessions sometimes can be very thin. Sometimes trading during this period such as fishing, we have to wait for very, very long time, before being able to rake in the profits.
- In this session we will look at the movement of the currency pair a stronger Asia Pacific, such as the AUD/USD and NZD/USD pair as opposed to non-Asia Pacific region such as GBP/USD.
- When liquidity is thinning, the majority of the value of the pair are unlikely to change quickly. And this became a chance to trade short (short day) or trade potential break-out at the end of the session.
- The majority of Forex action takes place early in the session, when a lot of economic data being released.
- Market movements in the Tokyo session can determine the rhythm of the trading for the next trading sessions. Traders at other sessions will be peeking inside the Tokyo session in order to see what happens to this session, so that they can organize and evaluate strategy.
- Usually after a big movement in the New York session, we'll see consolidation happening in the Tokyo session.
Pair Which Should We Use?
Simple course. Because at the Tokyo session news that come out frequently from Australia, New Zealand, and Japan, we can take advantage of the release of data and news to trade using news. In addition, generally the Yen Japan will show significant movement, because many of the currencies in this Country of Sunrise changed hands in conjunction with business enterprises Japan.
Although he had no role actively as Japan, but we should not forget that China is also a country with massive economic power in Asia. So just a little news or data that blow from the country with the third largest economy in the world, then it would seem the movement in the market. Moreover, with Australia and Japan which depends on the level of demand (demand) of China, we can see the movement of currencies AUD and JPY.
Well, now let's watch how we should be trading Forex at the London session!
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