📝Recommend Long CAD vs JPY: J.P. Morgan

The yen will weaken further amid ongoing Fed re-pricing and Japanese trade deficits. Prior yen weakness was exacerbated by corporate re-hedging ahead of fiscal year-end, with speculative participation modest. Do not foresee any change in Bank of Japan policy regarding yield control, though would fade yen weakness. Recommend a cash position in dollar-yen with year-end target marked-up to 126. Continue to favor commodity FX and stays long the loonie versus the yen through options - J.P. Morgan Strategy