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BofA: hold USD/JPY longs

Bank of America Merrill Lynch maintains 3 tactical long USD/JPY positions from 98.00, 97.50, and 97.00 with a stop at 95.80 and a target at 105.80/106.00.

"We have begun scaling into USD/JPY longs for a resumption of the long term bull trend to 105.80/106.00, potentially 109.80," BofA says.

Chart. Monthly USD/JPY

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