Banks: how to trade USD/JPY?
Strategists at large banks also maintain a buy-on-dips strategy for USD/JPY. For example, Credit Suisse recommends going long on pullback to 107.80 with a target of 110.60 and a stop loss at 107.30. Morgan Stanley is more cautious and is ready to enter longs at 108.20 with a target of 110.50 and a stop loss at 107.80.
The pair dipped to 108.25 in the European trade on Tuesday.
Chart. H4 USD/JPY