USDJPY is quickly moving up from around 141.00 to more than 142.00. The pair goes up again after the US CPI, just like the US Dollar.

Kanda spoke as the dollar dropped overnight because US consumer prices in October didn’t rise as much as expected. In October, the US Consumer Price Index went up by 0.3% MoM because prices for goods went down and prices for services, besides housing, went down. In September, food prices went up by 0.8%, but in October, they only went up by 0.6%. Investors are running away from the US Dollar because they want to take more risks and think that the Federal Reserve will change course after the report.

After the inflation number, the yields on US bonds fell by a lot. The interest rates on 10-year and 2-year US bonds went down from 4.10 to 3.90 and 4.60 to 4.38%, respectively. Stocks on Wall Street went up. The yen went up against the dollar. It wasn’t hurt by a willingness to take risks, and falling US yields were good for it. Even though the Dollar has been falling, it is still weak.

Conclusion

USDJPY broke through support at 145.00. Bias is down when it is below. At 141.50 and 142.60, there is support.