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