USDJPY: Buying dips is preferred
|Preferred Strategy: The dollar ended the week below 112.00, reaching 111.68 after the CPI miss, and for the time being it looks heavy with a chance of heading towards the strong support at 111.10. As I said before, I think the dollar will eventually head higher, so buying dips is preferred although that seems unlikely to happen in the next few sessions. For today, 111.10/112.00 would seem to have it covered.
Economic data highlights will include:
M: Industrial Production, Capacity Utilisation
T:
W:
T: Trade Balance, Foreign Bond/Stocks Investment, All Industry Activity Index
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