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, Aug 31 2012, 17:00 GMT | |||||||
| A. Narczewski | 78.20 | 77.80 | 78.00 | Sideways | Bearish | Sideways | ||
| ANZ FX Strategy Team | - | 76.00 | 76.00 | Sideways | Bearish | Bearish | ||
| BoA FX, Rates and Commodities Team | - | 77.00 | 78.00 | - | Bearish | Sideways | ||
| Claudiu Cazacu | 78.30 | 80.20 | 81.45 | Sideways | Bullish | Bullish | ||
| Danske Research Team | - | 83.00 | - | Sideways | Bullish | Sideways | ||
| GFM Research Private Limited | 78.30 | 77.90 | 77.70 | Sideways | Bearish | Sideways | ||
| ICN.com analysis team | 78.20 | 79.55 | 79.55 | Sideways | Bullish | Bullish | ||
| Ilian Yotov | 80.60 | 80.00 | 80.00 | Bullish | Bullish | Bullish | ||
| Joshua Martinez | 79.00 | 79.00 | 79.00 | Bullish | Bullish | Bullish | ||
| Malik Khan | 79.60 | 77.30 | 75.99 | Bullish | Bearish | Bearish | ||
| Mauricio Carrillo | 78.00 | 79.00 | 80.00 | Bearish | Bullish | Bullish | ||
| Rabobank Financial Markets Research Team | - | 78.00 | 79.00 | Sideways | Sideways | Bullish | ||
| RBS Team | - | 79.00 | 79.00 | Sideways | Bullish | Bullish | ||
| Ross Yamashita | 77.00 | 81.00 | 76.00 | Bearish | Bullish | Bearish | ||
| Scotiabank FX Strategy Team | - | 78.00 | 80.00 | - | Sideways | Bullish | ||
| TD Securities Research Team | - | 78.00 | 79.00 | Sideways | Sideways | Bullish | ||
| Valeria Bednarik | 77.65 | 78.00 | 80.00 | Bearish | Sideways | Bullish | ||
| Westpac Institutional Bank Team | - | 79.00 | - | - | Bullish | - | ||
| Yohay Elam | 79.00 | 80.00 | 81.00 | Bullish | Bullish | Bullish | ||
| Average | 78.53 | 78.83 | 78.81 | Bullish | Bullish | Sideways | ||
Renewed QE3 expectations disrupted the USD/JPY pair's move towards the top of its current range at 80.60. A move back there and a potential breakout would probably take place when the FOMC and the BoJ bring clarity on their next moves at their meetings in September.
The USD/JPY daily time frame is too sideways to predict the longterm movement. I'm waiting for a breakout.
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 situation in Japan is worsening, and without QE3, USD/JPY could edge up.
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.
A break below 77.95 will bring strong selling interests.