USD/JPY waiting for US CPI release today?

Yesterday the USD/JPY came close to challenging the current 38 Year high at 161.95, that it has set on July 3. The dollar reached 161.81 and later closed in the US at 161.69. Perhaps a degree of profit-taking on the major Yen crosses helped that stall where it did? More likely it was a refusal to take the dollar higher ahead of the important US CPI release later today. What is expected there will be covered here later this morning. Meantime, the USD/JPY has been mostly treading water so far today and as noted earlier, it has refused to move higher, despite the record gains in the Nikkei 225. The range seen so far has been covered by 161.48 to 161.72, but it is close to session highs just now, as the broader European markets start to get underway.