The opening of the Tokyo session at 12:00 am GMT marks the start of currency trading in Asia.
You should take note that the Tokyo session is sometimes referred to as the Asian session.
One thing worth noting is that Japan is the third-largest forex trading center in the world.
This shouldn’t be too surprising since the yen is the third most traded currency, partaking in 16.8% of all forex transactions.
Overall, around 20% of all forex trading volume takes place during the Asian session.
It’s not all coming from just Tokyo though. There are other major financial centers in Asia such as Singapore and Hong Kong.
What’s interesting is that nowadays, more forex trading volume comes out of Singapore and Hong Kong than Tokyo.
Both Singapore and Hong Kong comprised 7.6% of overall volume each, while Japan had 4.5%.