So says Deutsche Bank in their latest note
The USD/JPY is hovering at around ¥112-113, but downside risk remains prevalent and
a breach of 110 over the coming 3 months seems likely.
" The government is unlikely to allow a drop below ¥100 just before the Upper House election in July and may seek to halt any decline to ¥105-110 through currency intervention. At the same time, it will want to avoid criticism of weak yen guidance at the G20 Summit in May, which Japan will be hosting.