$USDJPY: Dollar reversal?

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I suspect we are seeing a large scale reversal in the dollar, which will be further confirmed if CPI favors renewed hawkishness surpassing current consensus estimates (consensus was already shaken by NFP yesterday, and would be further shocked if CPI allows Powell to keep hiking for longer than expected, or even do larger hikes as well). The BOJ governor change is looming as well, and with it the retirement of YCC apparently (yield curve controls). Overall, a decent trade if you need to hedge some equity risk in your portfolio or if you are an avid Forex trader already.
Best of luck!

Cheers,

Ivan Labrie.

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This one will be a pure macro play, depends on CPI data next...
Status of the relationship between USD and JPY: 'it's complicated'

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