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.”
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