Chart - Courtesy Trading View
USD/JPY was trading 0.54% lower on the day at 143.71 at around 04:35 GMT.
US dollar surged on Tuesday after significant jump in US core CPI strengthened the odds of a third consecutive 75 bps rate hike by the Fed.
The pair is showing some weakness on the day, upside has been capped below the 145 mark, is testing 5-DMA support at 143.57.
Data released by the US Bureau of Labor Statistics on Tuesday showed the headline inflation rate at 8.3%, higher than the estimated figure of 8.1%.
Core CPI that excludes oil and food prices landed at 6.3% higher than the forecasts of 6.1% and the prior release of 5.9%.
Major focus now will be on the US Retail Sales data which is showing no improvement in the overall demand.
Technical bias is still bullish, but overbought indicators raise scope for some weakness. Retrace below 200H MA will drag the pair lower.


FxWirePro: GBP/AUD consolidates around 2.0145, maintains bullish bias
FxWirePro- Major European Indices
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115?
FxWirePro- Major European Indices
FxWirePro: NZD/USD weakens as RBNZ quashes rate hike talk
FxWirePro: AUD/USD dips on soft China data
NZD/JPY: Bearish Momentum Builds — Sell the Rallies Below 90.90 for a Slide Toward 88.00
FxWirePro: USD/CAD pauses decline,critical support lies ahead
FxWirePro- Major Pair levels and bias summary
FxWirePro: NZD/USD downside pressure builds, key support level in focus
FxWirePro: USD/JPY dips as yen strengthens ahead of BOJ policy meeting
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects
FxWirePro: AUD/USD uptrend loses steam, remains on bullish path
FxWirePro: USD/CNY outlook weaker on renewed downside pressure 



