USD/JPY upside limited? – Westpac

By FXstreet.com | 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”.



comments powered by Disqus
Related Forex Analysis
  1. Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...
    Forex News

    Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...

  2. USD/JPY to Eye Fresh Highs on Less-Dovish FOMC, More BOJ Easing
    Forex News

    USD/JPY to Eye Fresh Highs on Less-Dovish FOMC, More BOJ Easing

  3. Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends
    Forex News

    Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends

  4. USD/JPY anchored on 108 handle
    Forex News

    USD/JPY anchored on 108 handle

  5. USD/JPY Remains Capped by Former Support Ahead of FOMC, BoJ Meeting
    Forex News

    USD/JPY Remains Capped by Former Support Ahead of FOMC, BoJ Meeting

Trading Center