JPY: Morgan Stanley remains bullish on the Yen

Here is Morgan Stanley's forecast for the week:

"JPY: We remain bullish. The focus remains on the BoJ, which is to meet in late April. The markets are wondering what the BOJ can do to reverse the Yen's direction. In the absence of substantial purchases of stock market shares or direct forex intervention by the BoJ, it will be difficult for the yen to decline. Note also that for the second consecutive week, Japanese investors repatriated capital from abroad, suggesting that the negative rate will not necessarily lead to capital outflows (which could lead to a drop in the Yen)," says Morgan Stanley.