USD/JPY not a lot changed after the high, but not as high as expected, Tokyo CPI numbers

USD/JPY is not a lot changed after the data:

• Tokyo area CPI for June, headline 3.1% vs. 3.8% expected

Its hovering just under 145, which is discussed as a bit of a level for the Bank of Japan to intervene.

• 145-150 in USD/JPY nominated as the area to watch for Bank of Japan yen intervention

But maybe not:

• USD/JPY at 152 is a possible Bank of Japan intervention trigger – Credit Suisse

Make sure you check out this quick video update from Greg:

• I know. I know.. I know. The USDJPY is overbought, but how do you trade it?

This article was written by Eamonn Sheridan at www.forexlive.com. Source