USD/JPY Extends Gains

USD/JPY is trading at 103.89, up 1.38. The pair has extended the session gains . Trading remains modestly choppy. Market talk about global money flows and chatter about comments from Japanese policy makers is constant and has kept both buyers and sellers active. Japan's Ministry of Economy Trade and Industry is scheduled to release industrial production and capacity utilization data Wednesday at 12:30 a.m. ET.