During the Asian session on Tuesday, USD/JPY is struggling to rebound from its losses in the previous day. The pair is treading water around 146.60 as market participants await the release of the US Consumer Price Index (CPI). The downward pressure on the pair can be attributed to both bullish comments made by the Bank of Japan (BoJ) and a lackluster performance by the US Dollar (USD).
Governor Kazuo Ueda's recent remarks indicate that there is a possibility that the Japanese central bank may consider reversing its negative interest rate policy. This development has added further uncertainty to USD/JPY movement in recent days.