USD/JPY higher to open the week – update after weekend news and Monday data

The yen rocketed higher on Friday on political news:

• Japanese yen sureges as Ishiba wins PM contest

When I say rocketed, I am not exagerrating. USD/JPY was above 146.00 and ended Frdiay down near 142.00.

We’ve had a bit of a rebound/retracement in early Monday trade.

News and data:

• Japan data – August Industrial production -3.3% m/m (expected -0.9%)
• Japan August Retail Sales 2.8% y/y (expected 2.3%)
• Talk of a Japanese election October 27

This article was written by Eamonn Sheridan at www.forexlive.com.