USD/JPY rebounds from three-week trough

USD/JPY tilted higher in Asian trade away from May 27 lows for the fourth session in six, following a spate of data from Japan and amid a lack thereof from the US, as investors wait for the Fed's policy meeting later this week.

As of 06:57 GMT, USD/JPY rose 0.07% to 109.73, with an intraday high at 109.83, and a low at 109.62. 

From Japan, the final reading for industrial production showed a 2.9% growth in April, beating estimates of 2.5% and compared to a 1.7% increase in March. 

The Federal Open Market Committee is convening tomorrow to decide on interest rates and monetary policy, with interest expecting no change to the near zero rates and the bonds purchases program at $120 billion.

Fed Chair Jerome Powell will hold a meeting on Wednesday following  the meeting to explain the decision, with the Fed expected to release three-year estimates for growth, inflation, unemployment, and interest rates.