USD/JPY: Benign US data print could send the pair back to this year's low at 129.50 – ING

USD/JPY came under modest bearish pressure early Thursday and declined below 132.00. The pair could plunge to 129.50 on mild US data, economists at ING report. 

Any upside should be limited to the 132.60/133.00

“The FX options market prices a 1.3% range for USD/JPY today, where a benign US data print could send USD/JPY back to this year's low at 129.50.”

“Next week's BoJ meeting means that any upside should be limited to the 132.60/133.00 area.”

See – US CPI Preview: Forecasts from 10 major banks, price pressures to ease further