2 Feb 2015
Remain bullish on USD/JPY – BAML
FXStreet (Barcelona) - Analysts at Bank of America-Merrill Lynch stay bullish on USD/JPY, and further anticipate the pair to move higher towards 119.63 levels.
Key Quotes
“Turning to $/¥, we remain long and bullish. While the Triangle has taken a bit longer than expected, its bullish setup remains intact, targeting 119.63, and potentially as far as 120.36, before renewed stalling.”
“A break below 117.25 invalidates the setup.”
“Bigger picture, the long-term uptrend remains incomplete for 124.16/124.59.”
Key Quotes
“Turning to $/¥, we remain long and bullish. While the Triangle has taken a bit longer than expected, its bullish setup remains intact, targeting 119.63, and potentially as far as 120.36, before renewed stalling.”
“A break below 117.25 invalidates the setup.”
“Bigger picture, the long-term uptrend remains incomplete for 124.16/124.59.”