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21 May 2014
USD/JPY downside is a buying chance - RBS
FXStreet (Barcelona) -Greg Gibbs, FX Trading Strategist at RBS, believes the current dip in USD/JPY is a buying opportunity.
Key Quotes
"USD/JPY has developed a modest downtrend recently, but a deep fall is not expected. We agree with the BoJ that its existing policy will eventually further ease monetary conditions and ratchet up downward pressure on the JPY."
"As such, we continue to look for a buying opportunity in the USD/JPY. On current projections of Fed members and the market for the first Fed rate hike in mid-2015, in the next few months, we expect this to begin to boost the USD against other major currencies, including the JPY."
Key Quotes
"USD/JPY has developed a modest downtrend recently, but a deep fall is not expected. We agree with the BoJ that its existing policy will eventually further ease monetary conditions and ratchet up downward pressure on the JPY."
"As such, we continue to look for a buying opportunity in the USD/JPY. On current projections of Fed members and the market for the first Fed rate hike in mid-2015, in the next few months, we expect this to begin to boost the USD against other major currencies, including the JPY."