• USD/JPY up 0.6% by 154 after Fri's post-NFP miss 151.86 low

• That low off last Mon's 160.245 peak and suspected MoF interventions

• The drop erased April's breakout beyond 2023/22 peaks by 152

• Made for an attractive dip-buying opp, but dimmed by bearish US data

• Focus now is on the May 15 US CPI and retail sales after hot March readings

• Forecasts for April CPI and sales suggest pullbacks to cooler levels

• But may take much cooler data to put 3 or more Fed cuts by yr-end in market

• At or above-f/c data could test tenkan/50% of last week's dive at 156.05

• All contingent on potential MoF intervention

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