USD/JPY has been steady in recent months. What is the structural bais for the currency in the coming months? Here is their view, courtesy of eFXdata: Bank of America Global Research maintains a structural bearish bias on USD/JPY over the coming months. “Lockdown in key foreign economies led to deterioration of Japan‘s current account balance in March and likely in April while investors may have bought USD/JPY‘s dip. These factors probably mitigated downward pressure on USD/JPY in March,” BofA notes. “Going forward, (1) a low oil price, (2) bottoming out of exports, (3) slowdown in outward M&A, and (4) the unattractive level of unhedged foreign bonds, should be supportive of JPY,” BofA adds. For lots more FX trades from major banks, sign up to eFXplus By signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Daily Look share Read Next USD/JPY up little, lacks follow-through beyond mid-107.00s FX Street 2 years USD/JPY has been steady in recent months. What is the structural bais for the currency in the coming months? Here is their view, courtesy of eFXdata: Bank of America Global Research maintains a structural bearish bias on USD/JPY over the coming months. "Lockdown in key foreign economies led to deterioration of Japan's current account balance in March and likely in April while investors may have bought USD/JPY's dip. These factors probably mitigated downward pressure on USD/JPY in March," BofA notes. "Going forward, (1) a low oil price, (2) bottoming out of exports, (3) slowdown in outward M&A, and (4)… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
