Market trying to break to the topside but stalling seen ahead of 138.00

Without a close above 138.00 the downtrend from October risks resuming

Some Japanese exporter interest noted ahead of 138.00, importers side-lined

Tight ranges clouding direction ahead of key event risk

U.S. inflation data and FOMC in the pipeline, Tues-Wed respectively

Whispers US CPI off to 6% handle, consensus +7.3% nL4N33304N

U.S. yields are holding close to recovery highs: dollar supportive

USD/JPY levels: 140.62 38.2% Fibo off 151.94-133.62 and 135.29, 200DMA

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