Morgan Stanley are still bullish on the yen further out, but right now are looking for a decline
They are long USD/JPY
- target 110.00
- stop loss 105.20
- A corrective advance, looks attractive across a variety of different metrics that we analyse this week
Further out, though:
- We maintain that 2018 will be the year of JPY strength
- but the next few weeks turning more risk-on and Japan exporting capital temporarily will set the rhythm for investors to return to the equity market dance floor
