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A potentially big week ahead for the dollar- check out the USD/JPY today

On Friday the USD/JPY got close to the noted technical resistance level at 156.01. The high seen was set at 155.95. The dollar later closed the week in the US at 155.78. Earlier today the USD/JPY reached 155.96 before another mini relapse sent it rapidly back towards 155.50. It has rebounded now though, from an earlier low at 155.52. So, it remain s to be seen, if that 156.01 price point will continue to cap the topside this week, as it did last. Outside of any potential BOJ action, there is a US economic release due out on Wednesday, which could determine that (if not beforehand) and it is the April CPI report, at 12.30pm GMT. There will be more to add on that data over the next couple of days. Meantime the USD/JPY is currently trading at 155.81
 

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