Every week, we are publishing the Experts Forecast Currencies Poll. A pool of selected traders and analysts gives us their targets for the major currencies for the week, month and quarter to come. They also indicate the whole trend in these periods.
The report includes a visual table for each pair, as well as the comments that the experts might have added to their analysis.
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| USDJPY | 1 Week | 1 Month | 1 Quarter | 1 Week | 1 Month | 1 Quarter | ||
|---|---|---|---|---|---|---|---|---|
| Levels | Trend | |||||||
| ©FXstreet.com | Fri, Jul 13 2012, 17:00 GMT | |||||||
| A. Narczewski | 79.00 | 81.00 | 83.00 | Bearish | Bullish | Bullish | ||
| Alberto Muñoz,PhD | 78.00 | 80.00 | 83.00 | Bearish | Bullish | Bullish | ||
| Anna Coulling | 78.37 | 76.02 | 80.50 | Bearish | Bearish | Bullish | ||
| Claudiu Cazacu | 79.00 | 82.00 | 83.50 | Bearish | Bullish | Bullish | ||
| Esteban Mora | 80.00 | 81.00 | 84.00 | Bullish | Bullish | Bullish | ||
| Gavin Grier-Rees | 80.00 | 80.00 | 80.00 | Bullish | Bullish | Sideways | ||
| Gonçalo Moreira, CMT | 78.80 | 77.60 | 76.70 | Bearish | Bearish | Bearish | ||
| ICN.com analysis team | 80.50 | 81.75 | 84.15 | Bullish | Bullish | Bullish | ||
| Joshua Martinez | 79.60 | 80.40 | 81.00 | Bullish | Bullish | Bullish | ||
| Malik Khan | 79.60 | 77.30 | 75.99 | Bullish | Bearish | Bearish | ||
| Mauricio Carrillo | 79.80 | 80.00 | 80.00 | Bullish | Bullish | Sideways | ||
| Valeria Bednarik | 78.00 | 79.00 | 80.00 | Bearish | Sideways | Sideways | ||
| Yohay Elam | 80.00 | 80.00 | 83.00 | Bullish | Bullish | Bullish | ||
| Average | 79.28 | 79.70 | 81.14 | Sideways | Bullish | Bullish | ||
The recent rally for the usdjpy has now firmly been exhausted having failed at 84.0 and now looking set for a second failure at the 80.50 region and we now look set to see a further leg down in the bearish trend back towards 76 in due course.
It's glued to 80.00 - we cannot separate them
The weekly closing above 79.60-79.80 is required to confirm the awaited bullish wave.
The USDJPY daily time frame is stuck in a sideways movement. The market has just started a bullish reversal before the market went sideways. I'm expecting a bullish break out.
If Japan becomes dependent on foreigners to finance the rollover of its debt, then either the Yen will fall or sinks or interest rates rise, and interest rates at just 3% would consume all of Japan's tax revenue. Clearly then the BoJ is going to monetise some of the debt. Especially since they are now targeting 1% inflation.
The safe haven pair remains stable. In the long run, more Japanese QE and the lack of QE3 will likely push it higher.
Risk Disclosure
This forecast has just an informative meaning and cannot be treated as the guide to action, signal, recommendation or an offer to carry out certain trading operation. The experts of this poll expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader.We always aim for maximum accuracy, and FXstreet.com cannot be held responsible for inaccurate information or typos.
After a volatile week, I expect the Yen to move sideways with a moderate upward move of the USD/JPY in the next couple of weeks.