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23 Sep 2014
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”.
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”.