USD/JPY: Buy on correction-bearish — Westpac

Robert Rennie, research analyst at Westpac, suggests that investors are returning to their previous upward bias and suggests to buy in areas of 108/110, but expect the USD/JPY is limited by 112.00/50.

Statements key

«With the French elections in the past, a concern somewhat reduced in the Korean peninsula and the equity markets of the US back to the highs of recent, the pair USD/JPY has recovered quickly to our goal of a month of 111.»

«We have remained with a bias to neutral in the last two weeks, concerned by the growing risk aversion».

«Any change in BoJ means that we still have a confusion over whether the BoJ is targeting purchases of JGBS of ¥ 80tn or zero yields of JGBS.»

Добавить комментарий