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USD/JPY dips seen as buying opportunities – Westpac

FXStreet (Edinburgh) - Analysts at Westpac Global Strategy Group remain constructive in their view regarding the bullish tone from the USD/JPY.

Key Quotes

“We remain inclined to buy USD/JPY dips”.

“Risks of a move to and potentially through 110 are building. To be sure, the pressure is very much on the dollar side”.

“But the fact that even in the aggressive A$ squeeze mid-last week, USD/JPY did not even flinch suggests momentum remains very strong”.

“Dips back to 105.50 are a strong buy here. Smaller dips may come on more mixed commentary on JPY from officials, with some (albeit not Governor Kuroda) showing unease over the speed of yen decline”.

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