Bank of America Merrill Lynch remains bullish on the USD. "Our favorite USD long remains USD/JPY, particularly following the break of key resistance at 100.62, the Sep-11 high. Through here should result in trend acceleration clearing the way for the May-22 highs at 103.74 and eventually 104.60/105.00 (measured move)," BofA clarifies. In line with this view, BofA maintains a long USD/JPY position from around 99.53 (avg), risking 97.61, targeting 104.60. Meanwhile, BofA thinks that as USD strength is set to become increasingly widespread, selling EUR/USD seems also attractive. "EUR/USD break of 2wkt rendline ... (full story)