• USD/JPY again probes the key on-close pivot pt at 133.73 pre-CPI Wed

• A 133.73-plus close, particularly post CPI, would target 134.75 next

• The 133.73 level is 50% of March's drop, daily kijun and weekly tenkan

• Tues's low at 132.97 on EBS was bought at the rising 55-DMA there

• Fed's Williams and Goolsbee lean hawkish and dovish, respectively

• Tsy yields came slightly off pre-Goolsbee highs, but WTI up 2%-plus

• BoJ Gov Ueda may modestly normalize policy in M-T, help yen

• But Fed and Treasury yields the main driver, thus focus on Wed's CPI

• Core CPI is key as overall y/y wildly skewed by base effect from WTI

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