USD/JPY should be well supported on dips – Westpac

Robert Rennie, Research Analyst at Westpac, suggests that they remain of the view that USD/JPY should be well supported on dips given that the Fed will (likely) raise rates in Dec and beyond plus economic momentum remains robust.

Key Quotes

“This argues for dips towards 110.50/ 111 as a good buy opportunity, though we would be cautious over the next few days given the potential for near term stock volatility.”