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13 Apr 2015
USD/JPY remains a buy on dips for 120.74 – AceTrader
FXStreet (Barcelona) - The AceTrader Team believes that the increasing US rate hike expectations will favour USD buying, thus maintaining a buy on dips approach for the pair, targeting 120.74.
Key Quotes
“Although dlr retreated after meeting renewed selling at 120.35 in Australia on Mon, buying interest above Friday's low at 120.05 and comments from BoJ Kuroda contained intra-day weakness at 120.09/10 in Tokyo morning n dlr bounced to 120.37.”
“As growing expectations for a U.S. rate hike by the middle of the year continued to lend broad support to the greenback, buying dlr on intra-day pullback for another rise twd last week's high at 120.74 is recommended today.”
“At the moment, bids are noted at 120.10-00 n then 119.85/80 with mixture of bids n stops emerging below 119.60.”
“On the upside, offers are tipped at 120.40-45 n more above with stops reported above 120.75.”
Key Quotes
“Although dlr retreated after meeting renewed selling at 120.35 in Australia on Mon, buying interest above Friday's low at 120.05 and comments from BoJ Kuroda contained intra-day weakness at 120.09/10 in Tokyo morning n dlr bounced to 120.37.”
“As growing expectations for a U.S. rate hike by the middle of the year continued to lend broad support to the greenback, buying dlr on intra-day pullback for another rise twd last week's high at 120.74 is recommended today.”
“At the moment, bids are noted at 120.10-00 n then 119.85/80 with mixture of bids n stops emerging below 119.60.”
“On the upside, offers are tipped at 120.40-45 n more above with stops reported above 120.75.”