• USD/JPY slips from NorAm high 125.60 ends NY -0.12% at 125.24

• USD bulls fail for 2nd consecutive session to meet 2015 high at 125.86

• Pair cratered after CPI, earnings data hint US inflation may have peaked

• Dollar top may be in vs yen after core CPI, earnings surprise nL2N2WA164

• $JPY rise from early March based on diverging Fed-BoJ rate expectations

• Converging rate view post-CPI data prod USD carry traders to rethink

• Res at recent high 125.77, 2015 high 125.86; longs likely sell on strength

• Supt Tues low 124.76, sub-123.53 50% of 121.28-125.77 bear gain control

• EUR/JPY slips 0.63% to 135.63 as ECB-BoJ rate views converge

• ECB Thur eyed for any guidance on H2 hikes, B/S run down

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