The Tokyo forex market, also known as the Asian forex market, is one of the most important forex trading centers in the world. It is the largest financial market in Asia and one of the busiest in the world, with a daily turnover of over $1.5 trillion. The Tokyo forex market is open 24 hours a day, five days a week, but it is important to note that it is not open on weekends and holidays.
The Tokyo forex market opens at 9:00 AM local time (JST) and closes at 5:00 PM local time (JST). This means that the market opens at 8:00 PM EST (Eastern Standard Time) and closes at 4:00 AM EST. The Tokyo forex market is the first major market to open in the forex trading day, followed by the London and New York markets.
The reason for the Tokyo forex market being the first to open is due to its geographical location. Tokyo is situated in the eastern part of Asia, and it is the financial center of the region. As such, the Tokyo forex market is the first to open in the morning, followed by other Asian markets such as Hong Kong, Singapore, and Shanghai.
The Tokyo forex market is also known as the “Yen Market” because of the significant role the Japanese yen plays in forex trading. The Japanese yen is the third most traded currency in the world, after the US dollar and the Euro. The yen is considered a safe-haven currency, which means that it tends to appreciate during times of economic uncertainty, such as during a global financial crisis.
The Tokyo forex market is a highly liquid market, with a large number of participants, including banks, financial institutions, hedge funds, and retail traders. The market is open to traders from all over the world, and it provides an opportunity for traders to trade the Japanese yen against other major currencies such as the US dollar, Euro, British pound, and Swiss franc.
One of the advantages of trading in the Tokyo forex market is that it provides an opportunity for traders to take advantage of the volatility in the Asian markets. The Asian markets tend to be more volatile than the European and US markets, and this provides an opportunity for traders to make profits by trading the fluctuations in the market.
Another advantage of trading in the Tokyo forex market is that it provides an opportunity for traders to trade during the Asian session, which is often overlooked by traders. Most traders tend to focus on the European and US sessions, but trading during the Asian session can be profitable, especially for traders who are trading in the yen.
In conclusion, the Tokyo forex market is one of the most important forex trading centers in the world, and it provides an opportunity for traders to trade the Japanese yen against other major currencies. The market is open 24 hours a day, five days a week, and it is the first major market to open in the forex trading day. Trading in the Tokyo forex market provides an opportunity for traders to take advantage of the volatility in the Asian markets and trade during the Asian session.
