USD/JPY is climbing to new highs and EUR/USD is also going up for a change. What’s next? Here are the thoughts from Bank of America Merrill Lynch: Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch remains long-term USD bulls (targeting the 106.00 area in the USD Index), but in the near and medium term the USD is set to struggle/ correct lower. “Indeed, EUR/USD has already begun to correct higher. We look for this correction to continue in the weeks ahead towards 1.28/1.30,” BofA notes. “Above 1.2559/1.2578 should result in an upward acceleration. Back below 1.2416(week long channel base) warns that the larger bear trend is resuming more quickly than anticipated,” BofA projects. Turning to USD/JPY, BofA argues that while they can’t rule out a deeper probe of the 115.28/ 117.70 target zone, this remains a very late-stage advance and we cannot recommend initiating new longs at current levels. “Indeed, a break of 115.72/114.89 would point to a top and turn, exposing a deeper pullback toward 110.09 (Oct-08 high) and potentially below,” BofA adds. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD Nov. 19 – Continues higher on German confidence Yohay Elam 8 years USD/JPY is climbing to new highs and EUR/USD is also going up for a change. What's next? Here are the thoughts from Bank of America Merrill Lynch: Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch remains long-term USD bulls (targeting the 106.00 area in the USD Index), but in the near and medium term the USD is set to struggle/ correct lower. "Indeed, EUR/USD has already begun to correct higher. We look for this correction to continue in the weeks ahead towards 1.28/1.30," BofA notes. "Above 1.2559/1.2578 should result in an upward acceleration. Back below 1.2416(week… 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.