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USD/JPY still a buy on dips – Westpac

FXStreet (Edinburgh) - Robert Rennie, Analyst at Westpac, said the bank’s broader view remains on the bullish camp for the pair.

Key Quotes

“To be sure, USD/JPY is more driven by the $ than the ¥ leg at the moment”.

“However, it’s hard to see USD/JPY breaking 105.50 without a clearer sign that policy is on the move here”.

“So we maintain a buy bias but do not preclude some near term softness back into our 103.70/104.40 buy area”.

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