You all know what I'm going to call this report

"STEADY"

There's no shocks here. It's a bit of a let down compared to yesterday but we were spoilt for action then

Before the figure I said we needed to be careful about the reaction in the dollar. It's not going to involve longer term traders but intraday traders need to keep a close eye on things

We pushed up 70 odd pips from the pre-figure jiggering about but in essence we only went 38 odd pips above the session high. That's your clue that we're staying in the range

USDJPY 15m chart

Be wary if we dip back below 123.00. I don't think we'll see any wild moves now but you never know