10 Mar 2015
USD/JPY remains a buy on dips – Westpac
FXStreet (Barcelona) - The Westpac team remains bullish on USD/JPY, and suggests to buy the pair on dips, with the pair expected to move towards 122.75.
Key Quotes
“We look to buy dips in USD/JPY to 119.75 with a stop below 118.25”
“From a macro perspective, we are concerned by recent warnings from Honda that USD/JPY north of 120 was problematic.”
“However, our model signals have no such concern and technically, USD/JPY looks Likely to challenge 121.85 with risk to 122.75. Hence the buy on dips.”
Key Quotes
“We look to buy dips in USD/JPY to 119.75 with a stop below 118.25”
“From a macro perspective, we are concerned by recent warnings from Honda that USD/JPY north of 120 was problematic.”
“However, our model signals have no such concern and technically, USD/JPY looks Likely to challenge 121.85 with risk to 122.75. Hence the buy on dips.”