Buy the dips in USD/JPY – Westpac

FXStreet (Edinburgh) - Strategist Robert Rennie at Westpac has recommended once again buying dips in the pair towards the mid-122.00s.

Key Quotes

“We have stuck with a buy bias for USD/JPY for many weeks now and continue with this view”.

“While the month end crop of data may pleasantly surprise, a strong US$ ahead of the Fed should continue to support USD/JPY”.

“So we stick with a buy bias for another week though it is a buy on dips and dips for us start below 122.50”.