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USD/JPY eyes 102.50 as recovery sharpens

FXstreet.com (Edinburgh) – The prevailing risk-on tone is pushing the USD/JPY back to the mid 102.00s area on Friday, bouncing off session lows near 102.10.

USD/JPY further upside ahead?

Despite the prevailing trade favouring the riskier assets, the JPY found extra selling pressure on higher than expected consumer prices in the Japanese economy during November, although industrial production expanded below estimates and the unemployment rate remained unchanged at 4.0%. According to Derek Halpenny, European Head of Global Markets Research at BTMU, “While this can be viewed as all positive in terms of progress on “Abenomics”, the real test as always will …read more