FXWW News/Trade Ideas/USD/JPY

USD/JPY outlook: Prefer to buy dips towards 96.60

  • Consolidation wedge pattern still in play with base at 96.60 (see chart);
  • AUD/JPY support at 86.25/40 should also attract buying interest;
  • End-of-month buying expect from Japanese corporates.

Risk-reward would now seem to favour the dip-buyers, keeping stops below 95.80 if possible.

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