* Dollar bears might be trapped by U.S. inflation data
* USD/JPY's biggest gain since Nov, close above cloud, bullish
* Spot could rise to tackle upside offers 110.00, some from option players
* Bids from shorts caught on Wed's surge trail down to the 109.00 level
* Thickening daily Ichimoku cloud now spans the 107.28-109.48 region
* USD/JPY has seen a 109.48-109.78 range on Thursday, according to EBS prices
* USD/JPY, EUR/JPY 30-day log correlation under +0.5, weak relationship
(Martin Miller is a Reuters market analyst. The views expressed are his own) ((martin.miller@thomsonreuters.com))
