Further confirmation that CPI inflation in Japan has peaked would likely add to the selling pressure on the JPY in the near-term. 

Given our view that the market will continue to unwind optimism regarding the pace of Fed rate cuts this year, we expect further broad-based gains for the USD on a 1-to-3-month view. 

We have revised up our one-month USD/JPY forecast to 148.00 from a previous forecast of 144.00.