USD/JPY consolidation of gain from the Apr 27 low persist, is a bull signal

Daily, monthly RSIs overbought however, unwind needed, implies downside risk

Broader up trend remain intact and dip buyers likely lurk but Fed risk looms

If Fed not as hawkish as expected USD/JPY may see a big correction lower

Support near 127.00 if key, if breaks shorts may target below 122.00

For more click on FXBUZ