USDJPY
USDJPY continues to hold the floor from early January

The USDJPY was on a downward track before the CPI report and after, the price initially moved down to a new low but that low tested and held the early January low at 129.498. That is where the fall stalled.

Since then the last few hours has seen the price rotated to a high of 130.67 before moving back to the downside. The current hourly bar reached a low of 129.583, back within nine pips of the early January low. The current price trades at 129.74.

Looking at the hourly chart above, if you were to go back to December 20, that low price bottomed at 130.556. Although the price moved back above that level post the CPI, the level is still be a target that would need to get to - and through - if the buyers are to feel more confident after the holding January lows.

Looking at the daily, a closer target above is the August 2022 low at 130.38.

On the downside, break below 129.498 and the 61.8% of the 2022 range at 128.16 would be eyed.

USDJPY
USDJPY tries to keep the pressure to the downside

Stocks are mixed:

Looking at the US debt market: