USD/JPY Quarterly chart

Very long term, momentum shifting along with interest rate differentials and BOJ ultra easy monetary policy being punished. Pain could continue for sometime for the yen especially if there is a resurgence of inflation in the US. Long term DXY chart remains bullish and dollar smile needs to be considered, current US economic relative strength but even if there is a US recession dollar would be expected to remain strong as part of a risk off/haven move.