eFXdata reports that Credit Suisse discusses USD/JPY outlook.

"In our Q2 Outlook, we argued for an expected range of USDJPY 107.00 – 112.50 for the quarter, arguing that moves to the low end of the range should be bought given the likelihood of pro-carry outcomes paying off over time in a reflationary global environment where the US is a growth leader. For those who missed the best levels to enter in terms of spot levels below 108.00, it’s still possible to consider option ideas as alternatives. This trade can benefit from any period of calm into and after the Golden Week period starting in Japan, as well as a longer period of reflection around whether the Fed can push against stronger US data, while retaining upside USD/JPY possibilities," CS adds.