USD/JPY upside limited? – Westpac

By FXstreet.com | Updated August 26, 2014 AAA

FXStreet (Edinburgh) - Strategists at Westpac Global Strategy Group doubt of the sustainability of further gains above 104.00 the figure.



Key Quotes



“We opt for a ‘buy’ bias this week. Japan’s recent run of data outside of the PMI suggests economic momentum continues to wane”.



“This week’s data will be important but September will be even more so as markets start to think about the potential for forecast changes at October’s BoJ ‘outlook’ meeting”.



“The economics of long USD/JPY above 104 are not overly compelling, however any dips back to 103.10/ 102.80 will be very well supported”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY could bounce higher towards 123.00 area – EW-Forecast

  2. Forex News

    USD Nearing Turn at End of Q1? Charts to Start the Week

  3. Forex News

    USD/JPY lifted around 119.70

  4. Forex News

    SEB: USD/JPY respecting the key support – eFXnews

  5. Forex News

    USD/JPY jumps to 10-DMA

Trading Center