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Chart - Courtesy Trading View
USD/JPY was trading 0.18% higher on the day at 115.78 at around 08:40 GMT. The pair is extending gains for the 3rd straight session, outlook is bullish.
Easing geopolitical tensions have decreased demand for safe-haven assets, Japanese yen under pressure.
US data released overnight was mixed. US Producer Price Index (PPI) rose past 9.1% YoY expectations to 9.7%, versus upwardly revised 9.8% prior, in January. Core PPI, rallied to 8.3% versus 7.9% market consensus.
Additionally, NY Empire State Manufacturing Index eased below 12.15 forecasts to 3.1, compared to -0.7 previous readouts.
Technical indicators are bullish. Markets eye US Fed meeting minutes and US retail sales for further direction.
January Retail Sales from the US is expected to reverse -1.9% previous contraction with +2.0% growth.
Also in focus will be the Federal Open Market Committee (FOMC) Minutes as traders jostle over 0.50% rate-hike clues.
