USDJPY: Buying dips is preferred

Jim Langlands FX Charts

Preferred Strategy: The dollar remains rangebound within 112.00/113.00, (112.07/112.58), and similar conditions appear set to continue. As before, I think the dollar will eventually head higher, so buying dips is preferred although for the time being another tight range could be in store while waiting on tomorrow’s US CPI figure.

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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