USD/JPY BULLS TAKE ON 133.80 RESISTANCE AHEAD OF CRITICAL US CPI

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USD/JPY bull has stayed with the course despite an initial drop in the European session and in Asia´s start of the day. The price recovered from late London's lows of 132.97 and printed a high of 133.80 in New York´s midday trading and despite some dovish comments from US central bank officials that weighed on the DXY index. 


USD/JPY remains bid as the Greenback remains supported on the interest rate differentials with higher T-note yields on Tuesday weighing on the yen, along with news that Japan’s March machine tool orders posted their biggest decline in 2-1/2 years. Japan Mar machine tool orders fell -15.2% YoY, the third consecutive monthly drop and the largest decline in 2-1/2 years. Additionally, Bank of Japan Governor Kazuo Ueda signaled no hurry to dial back its massive stimulus.

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