USD/JPY should be well supported on dips – Westpac

Sandeep Kanihama FXStreet Contributor

Robert Rennie, Research Analyst at Westpac, suggests that they remain of the view that USD/JPY should be well supported on dips given that the Fed will (likely) raise rates in Dec and beyond plus economic momentum remains robust.

Key Quotes

“This argues for dips towards 110.50/ 111 as a good buy opportunity, though we would be cautious over the next few days given the potential for near term stock volatility.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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