After a glorious upside run for the bulls, ANZ FX strategist Richard Yetsenga, remains sceptical about the sustainability of the USD/JPY rally. With USD/JPY at 88.12, and signs of the uptrend stalling still nowhere to be found, the analyst predicts that "with much of the favourable policy news likely to be announced by the end of January, we feel the rally is mature." The analyst adds that since global yields are expected to remain low and the monetary transmission process stalled, "we continue to view the yen as a strong currency." Richard does consequently expect the rally to be reaching a peak.