Back
10 Dec 2015
USD/JPY buy dips towards 120.50/121.00 – Westpac
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”.
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”.