So says Shinji Kureda head of fx trading at Sumitomo Mitsui Bank in Tokyo

  • USDJPY upside could be curbed around 115 by yen repatriation in run-up to end of Japan's fiscal year at end-March
  • sees no basic change in external risk factors such as China and oil
  • key focus will probably be whether US economic growth peaks out or not
  • BOJ negative rate may have limited effect on JPY unless global economy stabilizes and risk appetite fully recovers
  • USDJPY to remain in a range of 110-115 for a while

Year-end flows always a consideration.

Currently 114.60