USD/JPY bounces off weekly Ichimoku cloud 129.65-124.05

Break into cloud would open up significant downside potential

Judged by trading ahead and after CPI there's plenty of will to sell USD

Caution needed as base of weekly Bollingers bands is 128.57

Base 20-day Bollinger bands is 129.39

USD/JPY drop is becoming stretched - heightening chance correction

From longer-term perspective - may be the time to invest in yen nL1N33W0JY

Optimism in FX markets is at odds with expectations nL1N33X0LH