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USD/JPY buy the pullbacks to 112.00 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Strategist at Westpac Robert Rennie has reiterated its recommendation of buying the pair on dips towards 112.00.

    Key Quotes

    “While we are sounding like a broken record here, we stick with the same bias for another week”.

    “Sure, price action is not compelling and USD/JPY has not spent much time above 114 in the last couple of weeks”.

    “However, it continues to look fundamentally mispriced here and it is just a matter of time before we break 114/116. Thus we carry on buying dips below 112, but with stops below 110”.
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