Back
20 May 2015
USD/JPY: Bullish for 124 handle - BAML
FXStreet (Guatemala) - Analysts at Bank of America Merrill Lynch reiterated their bullish view on USD/JPY.
Key Quotes:
"Evidence continues to say that the contracting range of the past 4+ months is drawing to a conclusion and the long-term uptrend is set to resume for 124.59, ahead of 128.45."
"Below 118.33 invalidates this view and points to continued range-trading. Those awaiting additional price confirmation should watch for a break 120.86 (Apr-13 high)."
"We recommend adding to long positions on a break 120.86."
Key Quotes:
"Evidence continues to say that the contracting range of the past 4+ months is drawing to a conclusion and the long-term uptrend is set to resume for 124.59, ahead of 128.45."
"Below 118.33 invalidates this view and points to continued range-trading. Those awaiting additional price confirmation should watch for a break 120.86 (Apr-13 high)."
"We recommend adding to long positions on a break 120.86."