This trading idea shows how to trade USD/JPY at release of CPI and core CPI from USA. Make sure to look at revision (if any) in previously released as well as new released data. Sum up deviations of both data to determine whether it is neutral or negative or positive.
However, yesterday's closure of USD/JPY was bearish. So, it seems like the market ignored slightly positive CPI as core CPI was same as forecast. Hence, downside move is more likely to continue.
CPI came positive by 0.1 deviation, so it didn’t give any short sell signal.