Article Highlights

  • USD/JPY hits its five-year high
  • Japan revised industrial production at 1.0% vs. 0.5% expected
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We didn’t see any major economic report released today, but the Friday the 13th vibe certainly hit the yen as it fell across the board. As it turned out, expectations of a Fed taper and yesterday’s positive U.S. equities performance spurred the Asian markets today. As a result, USD/JPY hit its five-year high while other yen crosses also shot up.

Let’s see if our friends from London pick up the yen weakness theme for today. The only reports scheduled are the Swiss PPI data at 9:15 am GMT and the euro zone’s quarterly employment change report at 11:00 am GMT. Nothing particularly market-moving, but we could see a bit of profit-taking ahead of the weekend.

Watch your trades closely, folks!

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In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

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