USD/JPY: Bounce towards 109.50/110.50 looks to be a good sell opportunity – Westpac
|Strength towards 108.50/110 looks to be a good sell on strength as worsening US data should weigh on the USD/JPY pair, according to analysts at Westpac Institutional Bank.
Key quotes
“Our view has long been that the news in the US would get much worse. As this manifests itself in much weaker US data, that should continue to weigh on USD/JPY.”
“We cling to the view that ‘it is only a matter of time before USD/JPY heads lower again’.”
“Strength towards 109.50/110.50 looks to be a good sell opportunity.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.