USD/JPY (current price: 108.21)
The Revised Japanese Industrial Production number came in at 0.6%, above the expectations of an unchanged reading. The slightly bearish Chinese Industrial Production and Retail Sales number weighed heavily on the Yen during the session. The dovish speech of Bank of Japan Governor Kuroda also pushed the currency lower, which finished with the biggest losses compared to the U.S. Dollar once again among the majors.
Our assessment: The pair advanced above the strong resistance level at 107.50 yesterday. The long-term downtrend might have ended, as the pair broke out of a neutral range last week.
