Bank of America Global Research maintains a cautious bias on the JPY in the near-term.
"USDJPY at 144 is at the strongest level since the early 1980s. Kuroda was again dovish at Jackson Hole, contributing to the latest move. The BoJ remains the only dovish central bank in G10, sticking with unconventional policies," BofA notes.
"Japan is also the only G10 economy with core inflation still well below 2%. The MoF has stepped in expressing concerns about JPY weakness, but there is no intervention talk yet. We think USDJPY has now overshot fundamentals, but JPY is a falling knife," BofA adds.