Bank of Americal Merril Lynch: Long USD/JPY again

The Bank of Americal Merril Lynch analyst recommend USD/JPY long position on risk on sentiment

• “It is time to go long JPY again.  Short USDJPY and short EURJPY were two of our top year ahead trades.  Both trades did very well during the market sell-off in late December and early January, but JPY weakened again during the risk-on in recent weeks.”
• “If we see a market correction in the weeks again, JPY should appreciate again. Eurozone data remains weak and the short-term risks will keep the Fed dovish for  now.”