The US dollar is currently strong against the Japanese yen, as market participants remain cautious about potential actions from the Bank of Japan (BOJ). Analysts note that the BOJ has left the timing of any interest rate hikes open, contributing to the dollar's firm position. In the context of the ongoing economic environment, some market observers are anticipating a narrowing of the yield gap between the US and Japan in the coming year, which could shift dynamics in favor of yen bulls. The overall sentiment reflects a wariness among yen bears regarding the BOJ's potential tightening measures.