BoA: short on USD/JPY
Bank of America Merrill Lynch is bearish on USD/JPY.
In their view, Nikkei stock index will decrease further towards the 12,996/13,000, and yen will strengthen making US dollar depreciate to 99.95/72 and 95.89 and potentially to 90.91.
As a result, the bank is short on the pair from 101.83 targeting 95.89 with stop at 102.75.
Chart. Daily USD/JPY