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Onwards and upwards for USD/JPY as it lifts to yet new 34 year highs

The USD/JPY is still pressing higher right now. The dollar has reached a new 34 year summit a short while ago, reaching 154.75 ahead of some US data releases due in a couple of minutes- industrial and manufacturing production and capacity utilisation- at 1.15pm GMT. The fresh multi-year highs for the USD/JPY have come alongside a modest rebound in the EUR/USD and the GBP/USD. Hence, both the EUR/JPY and GBP/JPY have just now hit session highs and it is all about Yen weakness it seems, as US stock futures set a higher opening outlook for this afternoon. The whole vista can soon change, as we know all too well, but for the time being it is Yen weakness that is transcending any kind of risk aversion ahead of the US stock market opening. The USD/JPY is right now trading at 154.72

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