USD/JPY set to target the 150 level – BofA

USD/JPY has somewhat stabilised after a choppy week. But maintain economists at Bank of America Global Research maintain a bullish bias targeting a move towards 150.

Still an uptrend 

“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, USD/JPY continues to break higher and reach our long list of big upside targets.” 

“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.”