Bank of America: 'We're No Longer Bearish JPY'; Medium-term JPY View Revised Toward Neutral - eFXdata
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Bank of America: 'We're No Longer Bearish JPY'; Medium-term JPY View Revised Toward Neutral eFXdata
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4 itemsBofA cuts USD/JPY forecast to 152 (prior 157) and flags three triggers for yen bull turn
Lead — Bank of America (BofA) has shifted its stance on the Japanese yen from bearish to neutral, revising its end-2026 USD/JPY forecast down to 152 from 157. The adjustment reflects improving structural flows in Japan and highlights three potential catalysts that could further validate a bullish outlook on the yen. Per the full note [source], potential triggers include USD/JPY reaching 160, Japan's 10-year JGB yield near 3%, or Brent crude prices dropping below $90 per barrel. This change comes as the current consensus is centered around a range targeting approximately 152 in the medium term, with no significant catalysts on the calendar to influence short-term trading sentiment.
Bank of America Revises USD/JPY Forecast for End-2026 on Strengthening Yen Outlook - MEXC
The desk interprets Bank of America's recent revision of the USD/JPY forecast as a significant signal of a strengthening yen towards 2026. Per the full note, Bank of America has adjusted their projections to 147.00 for December 2026, indicating a more bullish outlook on the JPY amid a backdrop of potential shifts in global monetary policy and economic recovery in Japan. However, this view deviates from the consensus, which suggests greater bearishness, with a median target at 148.00 with a range from 143.00 to 164.00 across other firms. The desk sees this as a pivotal moment where traders should reassess positioning ahead of key economic indicators that could further impact these projections.
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