USD/JPY buy dips towards 120.50/121.00 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - Sean Callow, Strategist at Westpac, sees pullbacks to the 120.50/121.00 area as opportunities to buy the pair.

    Key Quotes

    “One month realized USD/JPY volatility was very close to 2015 lows until Wed’s sudden spot slide”.

    “Our best hope for a tradeable move on the FOMC could be to see if there is a knee-jerk wave of “sell the fact” USD/JPY selling on confirmation of a Fed hike but a fairly vague 2016 outlook”.

    “Any dip to 120.50/121.00 or so would be appealing, although the sogginess of US 10 year treasury yields should continue to limit USD upside short term”.
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