BoA: USD/JPY will go up
Bank of America Merrill Lynch expects a long-term USD/JPY bullish trend to resume. The specialists recommend buying the greenback on the pullbacks down (declines should not breach 96.80/94.90) targeting 105.80/106.00, potentially 109.80. Note that triangle resistance at 99.70 may be sticky in the near term.
Chart. Daily USD/JPY