25 Jun 2015
USD/JPY remains bullish – Westpac
FXStreet (Edinburgh) - Strategist Robert Rennie at Westpac remains bullish on USD/JPY in the near term.
Key Quotes
“We have maintained a buy on dips bias for a number of weeks now”.
“Our view remains that a weak CPI and a soft Tankan should increase the focus on the potential for further monetary policy tweaking”.
“The next ‘interim assessment’ is only two and a half weeks away so we will stick with our buy bias for another week”.
“We would run a stop below recent lows though i.e. sub 122.45 we would have to be neutral”.
Key Quotes
“We have maintained a buy on dips bias for a number of weeks now”.
“Our view remains that a weak CPI and a soft Tankan should increase the focus on the potential for further monetary policy tweaking”.
“The next ‘interim assessment’ is only two and a half weeks away so we will stick with our buy bias for another week”.
“We would run a stop below recent lows though i.e. sub 122.45 we would have to be neutral”.