Westpac: buy USD/JPY on dips
According to Westpac strategists, it still makes sense to buy USD/JPY on dips multi-week.
"The sales tax decision seems virtually made, with the hike on the way but probably some looser policy elsewhere to cushion the blow. The BoJ might even play a role in due course. But this week’s focus should be firmly on the Fed. Multi-week bias still to buy dips."