When something can’t rally on good news, it’s time to re-evaluate. CPI numbers were bullish for the US dollar but USD/JPY is carving out a fresh session low at 117.88.
It’s a long way to the close but the USD/JPY daily chart could be an early warning sign of a larger dip.
USDJPY daily
I’ve been counseling to buy 150 pip dips in USD/JPY would mean buying at 117.48. In this case I might wait until closer to 117.00.
