EUR/JPY: Citi and Morgan Stanley recommends traders buy around 136.50 this week

"Investors should consider buying EUR/JPY this week, advise both Citi and Morgan Stanley.

Governor Fischer's comments were more dovish than in recent months, indicating that the Fed is increasingly concerned about the global economy. This should be beneficial for risk appetite.

In addition to the market's recent improvement in terms of risk appetite, we believe that expectations of monetary easing by the BoJ could increase the downward pressure on the JPY ahead of the 30 October BoJ meeting. However, Kuroda continued to display a conservative tone but deteriorating statistics could quickly change things."

In line with these statements, citi recommend buying EUR/JPY at 136.58 with a target at 139 and a stop loss at 135.

Morgan Stanley recommends buying at 136.40 with a target at 141 and a stop loss at 134.70.