I spoke with Dale at FXStreet yesterday and he asked me about USD/JPY. I repeated what I’ve been saying here since the BOJ decision — dips will be relatively shallow in the pair and that after a high-to-low move of around 150 pips, think about buying.
The dip on Friday was 165 pips and so far today the dip is 121 pips. There is some minor support at 114.62 if the pair resumes its decline.
