USD/JPY: Breaks 117.20 On US Data, 117.50 Eyed

Option selling linked to the 117.00 & 117.30 expiries has been negated in the wake of the US data. November Retail Sales have aided the Dollar and USD/JPY has broken above the previous 117.20 cap. 117.50 is now eyed for the move higher before the next batch of decent sellers will be found. Stops are noted above 117.55 that will fuel the rally should these be removed.