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16 Apr 2015
USD/JPY buy on dips - Westpac
FXStreet (Edinburgh) - Strategist Robert Rennie at Westpac, remarked that dips in USD/JPY represent a chance to go long.
Key Quotes
“We maintain a neutral bias for ¥ and EUR/JPY for yet another week”.
“However, we remain of the view that USD/JPY remains a buy on dips and target the 117/119 band”.
“Markets will start to turn the focus towards the BoJ meeting April 30”.
“The fact that it comes the day after the FOMC outcome means we should expect to see some reasonable volatility over that last week of April. We stay neutral and wait for dips to buy”.
Key Quotes
“We maintain a neutral bias for ¥ and EUR/JPY for yet another week”.
“However, we remain of the view that USD/JPY remains a buy on dips and target the 117/119 band”.
“Markets will start to turn the focus towards the BoJ meeting April 30”.
“The fact that it comes the day after the FOMC outcome means we should expect to see some reasonable volatility over that last week of April. We stay neutral and wait for dips to buy”.