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.
