Trading sessions — London, New York, Tokyo

Forex trades 24 hours a day because different financial centers around the world open and close in sequence — Tokyo, then London, then New York.

The London session and the overlap between London and New York tend to have the most activity and the clearest moves, since that's when the most traders and institutions are active at once.

The quiet hours (like late in the Asian session for non-Yen pairs) often produce smaller, choppier, less reliable moves — good to know before wondering why a setup that looked perfect just isn't going anywhere.

Volatility and volume aren't quite the same thing, and both matter. High volume means lots of participants are active, generally producing cleaner, more reliable moves. Low-volume periods can still be volatile — sharp, jumpy moves — but for less reliable reasons, often just a handful of large orders moving price around in a thin market.

The Asian session, while quieter for most majors, is actually the primary session for Yen and Australian Dollar pairs, since that's when their home markets are open and most active. "Quiet" is relative to which pair you're actually watching.