UBS: buy dips in USD/JPY and GBP/USD
UBS strategists recommend buying the dips in USD/JPY and GBP/USD.
"We continue to think that USD/JPY might be the only USD that is worth staying long or at least buy dips. We would need a clean break through the 100.40/50 area to see a continuation of this recent uptrend, while above 99.50, one can continue to buy the dips", UBS explains.
"As for GBP/USD, we look for an eventual test of the November high of $1.6198, so buy dips into $1.6050 with a stop through $1.5990".