USD/JPY rebounds further today and here are the reasons why

The USD/JPY has pushed further above 157 so far today. The rebound from the low seen yesterday during the Asian session extended once the dollar got past any resistance at 156.83. That noted price level did cap the topside until the 4pm London FX fix, but once surpassed it has not looked back since. The USD/JPY closed in the US last night at 157.37 and today it has risen further, to a high so far at 157.86 just now. The reasons for the further gains come after the latest Japanese CPI data did not exceed forecasts and that has added some doubt, as to whether the BOJ will increase interest rates at the end of the month. The other reason for the further rebound in the dollar comes after data released from the BOJ does not indicate the Japanese central bank intervened at all on Wednesday. The USD/JPY is currently trading at 157.81