According to Jinshi Data, Deutsche Bank said that if the Federal Reserve makes hawkish remarks and the Bank of Japan keeps interest rates unchanged this week, the yen may fall to 157 against the US dollar.
Tim Baker, macro strategist at Deutsche Bank, noted that accelerating inflation but slow central bank action could push USD/JPY higher. However, the Bank of Japan has the ability to unexpectedly raise rates this week, which would boost the yen at least initially.