16 Dec 2015
USD/JPY keeps the neutral stance near term – Westpac
FXStreet (Edinburgh) - Strategists at Westpac see the pair keeping a neutral stance for the upcoming week.
Key Quotes
“Given the recent run of Japanese data, the market seems to have finally thrown in the towel on another wave of BoJ QE. We would agree with this”.
“Thus it seems logical that we see a step down in USD/JPY towards the 120 level. If the Fed delivers a dovish hike we may see a push below 120. So we stick with neutral stance for the week ahead but would still see dips below 120 as an opportunity”.
Key Quotes
“Given the recent run of Japanese data, the market seems to have finally thrown in the towel on another wave of BoJ QE. We would agree with this”.
“Thus it seems logical that we see a step down in USD/JPY towards the 120 level. If the Fed delivers a dovish hike we may see a push below 120. So we stick with neutral stance for the week ahead but would still see dips below 120 as an opportunity”.