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5 Feb 2015
USD/JPY a buy on dips… to 115.00 – Rabobank
FXStreet (Edinburgh) - In the view of Richard Rennie, Strategist at Westpac, pullbacks to the 115.00 area could well be considered buying opportunities.
Key Quotes
“With JGB yields kicking up as much as they have, what looks to be another Greek standoff about to start and falling yields/flattening curves, this is hardly the point at which we should flip back to a buy USD/JPY recommendation”.
“However, we remain pretty neutral at current levels. For us, USD/JPY is still a buy on dips, but dips are sub 115 now. Happy to sell strength 118.50 and beyond”.
Key Quotes
“With JGB yields kicking up as much as they have, what looks to be another Greek standoff about to start and falling yields/flattening curves, this is hardly the point at which we should flip back to a buy USD/JPY recommendation”.
“However, we remain pretty neutral at current levels. For us, USD/JPY is still a buy on dips, but dips are sub 115 now. Happy to sell strength 118.50 and beyond”.