USD/JPY: setbacks under 110 buy – Westpac

FXStreet – The Westpac Analyst Robert Rennie explained that the USD/JPY in the vicinity of 115 to expensive and it was the right decision back in a neutral position on the day. The risk aversion with the Trump-FBI-Russia controversy led to a strong downward correction.

Important Quotes

“It’s just hard to imagine that the markets are risk aversion, since the investigations are likely to continue for some time.”

“However, the course development use of setback under 110 as a buying opportunity.”

“So we stay for another week neutral, but with the USD weakness to buy comp under 110.”

** FXStreet News Editorial, FXStreet**

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