Bank of Americal Merril Lynch: Short USD/JPY again

Sandeep Kanihama FXStreet Contributor

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.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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