BofA: USD/JPY targets at least 99.20
Bank of America trade on USD/JPY: hold a short USD/JPY position from 101.75, targeting 99.21 and with a stop at 102.85.
Despite the recent USD/JPY bullish correction, BofA remains absolutely bearish on the pair. In their view, the decline could possibly extend to 97.40. Analysts will turn neutral on a break above 102.81 (June 4 high), while rise above 104.13 could activate the long-term bullish scenario.