29 Apr 2015
Stay bullish on USD/JPY – BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-MerrillLynch, maintains a bullish outlook on USD/JPY, expecting the pair to resume higher towards 124.59.
Key Quotes
“We remain long $/¥, as evidence says that the bull trend 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, while those awaiting additional price confirmation need a break of 120.86 (the Apr-13 high).”
Key Quotes
“We remain long $/¥, as evidence says that the bull trend 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, while those awaiting additional price confirmation need a break of 120.86 (the Apr-13 high).”