USD/JPY: buy on dips - Westpac

FXStreet (Guatemala) - Analysts at Westpac Banking Corporation explained they are sticking with a buy on dips strategy in USD/JPY.

Key Quotes:

"We have stuck with a USD/JPY buy dip bias for a number of weeks now. To be sure, this bias has assumed that Greece would either be solved or kicked significantly down the road."

"That appears to be the case now, so that firms up the buy on dips view. However, upside for us is based more on likely strong Q2 GDP in the US (Thursday next week) and disappointing Q2 GDP in Japan."