USDJPY: CPI Supports the Dollar, but the Downtrend Still HoldsUSD/JPYOANDA:USDJPYProfessorSingaporeWhat happened? USDJPY is trading near 153.65 after U.S. CPI gave the dollar short-term support. August inflation came in stronger on the monthly reading, reinforcing expectations that the Fed may keep policy tighter. News background The dollar rose after the CPI report because higher inflation keeps rate-hike expectations alive. For USDJPY, however, the reaction is not one-sided: the dollar has support, but the yen is still backed by expectations of a more hawkish Bank of Japan. Chart analysis The chart still points lower. USDJPY remains below EMA 9 near 153.72, SMA 50 near 153.91, EMA 200 near 155.29 and SMA 200 near 155.55. RSI near 42 and a negative MACD histogram confirm weak momentum. The key pullback zone is 153.86–153.93. While price stays below this area, rebounds look corrective rather than a confirmed reversal. Scenarios Bearish scenario: rejection below 153.86–153.93 keeps 153.05 in focus. A confirmed break below 153.05 would strengthen downside pressure. Bullish scenario: buyers need to reclaim 153.93 first, then 154.77. Only a move above 155.57 would break the bearish structure. Key idea: CPI supports the dollar, but USDJPY remains bearish until buyers reclaim the pullback zone. ⚠️ Not financial advice.