Bank of America Global Research discusses USD/JPY technical outlook and maintains a bullish bias targeting a move towards 150.
"Still a strong uptrend with potential to see 149.53/150 in the next leg of a broad USD rally. Since the secular breakout in 1Q22, USDJPY continues to break higher and reach our long list of big upside targets," BofA notes.
"The next three levels are the 38.2% head and shoulders target of 145.18, the peak in 1999 was in the 147s and an A=C target is 149.53," BofA adds.
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