Flash: USD/JPY dips are now buying opportunities – ANZ

FXstreet.com (New York) - According to Head of Global Markets Research Tim Riddell at ANZ, “As the USD/JPY continues towards the secondary squeeze target of 100.00, the biggest concern is that this is not merely a sharp corrective squeeze.”

Indeed, “the realistic possibility exists for an early resumption of JPY weakness and a push towards 105.00-106.00. Either way, dips should now be seen as a buying opportunity. A dip below 99.10 could trigger some near term pullbacks to the 96.65-97.50 area (a buying opportunity) with stops raised to 96.00.” Riddell notes.