USD/JPY: Near term dips to be limited to 111.75 - Westpac
|Robert Rennie, analyst at Westpac, suggests that they have stuck with a neutral bias for USD/JPY for some time with the strong caveat that we would switch to a buy on dips 111.00/112.50.
Key Quotes
“This area appears to have worked well though clearly could be subject to further tests given Brexit risks into next week and the poor market response to the Trump/ Xi ‘agreement’.”
“Thus risks are we see further weakness through next week though we still expect near term dips to be limited to 111.75 and we still expect some more material strength into end year.”
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.