FX ALERT: USD/JPY Approaches 160 – BofA Advises Exiting Longs
Bank of America is cautioning that USD/JPY longs are increasingly at risk as the pair nears the critical 160 level — a major resistance zone and a potential trigger point for BoJ/MOF intervention.
Adding to the uncertainty: ongoing political pressure on U.S. interest rates, the reported DOJ probe involving Powell, and the possibility of a policy shift following Japan’s recent snap election.
On the technical side, upward momentum appears to be stalling near 157.90.
Bottom line: The current rally toward 160 should be viewed as a prime exit opportunity for longs, rather than a fresh buy signal.
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