Tokyo-based strategists say Yen could advance towards 100 per US dollar

Analysts based in Tokyo expect Japanese Yen to advance toward 100 per US dollar over the next few months, as Federal Reserve's massive monetary stimulus would weigh on the greenback. 

The Yen stands to gain due to US' monetization policies, said Citigroup Global Markets Japan Inc., according to Bloomberg. 

Meanwhile, MUFG Bank Ltd sees Yen drawing bids from increased repatriation due to the potential worsening of the coronavirus pandemic. 

USD/JPY is trading near 107.90 at press time. The US dollar is currently the preferred safe-haven currency.