USD/JPY ripped higher on weak industrial production data; key hurdle 98.52
FXstreet.com (Barcelona) – The USD/JPY blew off evidence that Japanese deflation is no longer a problem and instead focused on weaker-than-expected industrial production as it moved closer to an impressive breakout above 98.52 resistance.
More data due out that may drive the action Friday
In several hours, Japanese housing starts and construction orders will be released – neither of which really has the potential to move USD/JPY in a big way. Later in the day, however, several US data points (personal income, spending and consumption numbers, Chicago PMI data and the University of Michigan Consumer Sentiment Index) are due …read more