The level cap in Final Fantasy games has traditionally been 99. Given that they've stressed how much they want to give the game more of a Final Fantasy feel, I doubt they will break with it. They've also stressed how they want this game to be more approachable to casual players - given how long it takes to go from 40-50 currently, anything more than 100 would require a massive, massive amount of time unless they flatten the leveling curve considerably.