30 Jul 2015
USD/JPY: buy the dips below 123.00 – Westpac
FXStreet (Edinburgh) - Strategist at Westpac Robert Rennie sees dips to sub-123.00 levels as buying opportunities.
Key Quotes
“We have stuck with a buy USD/JPY dips bias for a number of weeks now. We still see that as a story that will develop more fully through August/ September”.
“Likely weak Q2 GDP in Japan (August 17) and Fed lift-off (Sep 17) should be the catalysts for a reasonably significant move higher in USD/JPY”.
“Between now and then, use dips below 123 as an opportunity to buy”.
Key Quotes
“We have stuck with a buy USD/JPY dips bias for a number of weeks now. We still see that as a story that will develop more fully through August/ September”.
“Likely weak Q2 GDP in Japan (August 17) and Fed lift-off (Sep 17) should be the catalysts for a reasonably significant move higher in USD/JPY”.
“Between now and then, use dips below 123 as an opportunity to buy”.