The forex market operates 24 hours a day, five days a week, across four major trading sessions: Sydney, Tokyo, London, and New York. Each session has distinct characteristics.

The London session (8:00-17:00 UTC) is the most active, accounting for roughly 35% of daily volume. Major pairs see their tightest spreads and highest liquidity during this window.

The London-New York overlap (13:00-17:00 UTC) is the most volatile period, with both major financial centers active simultaneously. Most significant price moves occur here.

The Tokyo session is characterized by JPY pair activity, while the Sydney session sees AUD and NZD movements. Volatility is generally lower in Asian sessions.

Understanding session timing is crucial for strategy selection. Breakout strategies work best at session opens, while range-bound strategies suit quieter Asian hours.