USD/JPY has eeked out a downside playbook following weakness in the greenback. Bears are seeking a downside extension from the 61.8% Fibo. USD/JPY is currently trading at 108.47 having travelled from a low of 108.34 to a high of 108.49 and is upon the day by 0.11%. The US dollar index is modestly lower on the day and USD/JPY fell from 108.90 to 108.34. The US CPI in February rose 0.4% MoM and 1.7% YoY as expected, driven by rising energy costs and cold weather. However, there was more focus on the core measure, with ex-food and energy up only 0.1% MoM vs the estimate of +0.2% MoM and +1.3% YoY vs the estimated +1/4% YoY. This lead to US government bond yields moving lower which ended the day slightly lower, despite a softer than expected 10-year Treasury auction results. The two-year government bond yields held at around 0.16%, and 10-year yields dropped to 1.50% following US inflation data rising less than market expectations. Investors will now await the auction in 30-year debt on Thursday, seeking to cover massive shorts. A weak 7-year auction in late February helped fuel inflation concerns and sent yields higher, so investors are keeping a watchful eye on the bond market. Meanwhile, the markets will also be on the lookout for initial jobless claims that will print around 725k, after ticking higher on weather disruptions last week. JOLTS job openings are set to hold around 6650, with the recent rise led by business services and retail trade. USD/JPY technical analysis The emphasis is on the downside following a correction of the latest bearish hourly impulse. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next PBOC sets yuan reference rate at 6.4970 FX Street 1 year USD/JPY has eeked out a downside playbook following weakness in the greenback. Bears are seeking a downside extension from the 61.8% Fibo. USD/JPY is currently trading at 108.47 having travelled from a low of 108.34 to a high of 108.49 and is upon the day by 0.11%. The US dollar index is modestly lower on the day and USD/JPY fell from 108.90 to 108.34. The US CPI in February rose 0.4% MoM and 1.7% YoY as expected, driven by rising energy costs and cold weather. However, there was more focus on the core measure, with ex-food and energy… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.