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USD/JPY stance remains neutral very near term– Westpac
FXStreet (Edinburgh) - In the view of strategists at Westpac, the outlook for USD/JPY remains neutral for the upcoming sessions, although dips should be regarded as buying opportunities.
Key Quotes
“We maintain a neutral bias for ¥ and EUR/JPY for yet another week”.
“However, we remain of the view that USD/JPY remains a buy on dips and target the 117/119 band”.
“Markets will start to turn the focus towards the BoJ meeting April 30”.
“The fact that it comes the day after the FOMC outcome means we should expect to see some reasonable volatility over that last week of April”.
“We stay neutral and wait for dips to buy”.
“Range trading since February has proven frustrating. ST/MT momentum factors are relatively neutral, keeping directional bias low”.
