From the good folks over at eFX
Deutsche Bank on the yen:
We
maintain our outlook for a relatively high possibility of a battle
between JPY bulls and Japanese authorities in the 100-105 range, rather
than an upward shift to the 110-115 range, over a next few months. If
this outlook is correct, we view 100 as a key threshold for the USD/JPY
to move to 90 or 110-115 (similar to the role of 115 in January).