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14 May 2015
Buy the dips in USD/JPY – Westpac
FXStreet (Edinburgh) - Strategist at Westpac Sean Callow recommends buying the pair on pullbacks.
Key Quotes
“For all the nasty price action on many USD pairs, hinting at painful squeezes on popular trades, USD/JPY looks strangely calm”.
“Japanese data has not inspired any talk of the BoJ tapering its QE; rather the risks seem to be of yet further easing, albeit not short term”.
“Investors seem willing to persist with buying USD/JPY dips, taking the long view”.
“So long as 118.65 - 120.35 remains intact, we are content to remain neutral, while retaining the upward bias over 3 months”.
Key Quotes
“For all the nasty price action on many USD pairs, hinting at painful squeezes on popular trades, USD/JPY looks strangely calm”.
“Japanese data has not inspired any talk of the BoJ tapering its QE; rather the risks seem to be of yet further easing, albeit not short term”.
“Investors seem willing to persist with buying USD/JPY dips, taking the long view”.
“So long as 118.65 - 120.35 remains intact, we are content to remain neutral, while retaining the upward bias over 3 months”.