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.
Agree or disagree? Comments? Your own forecast? Post your thoughts in the Forecasts discussion group!
| USDJPY | 1 Week | 1 Month | 1 Quarter | 1 Week | 1 Month | 1 Quarter | ||
|---|---|---|---|---|---|---|---|---|
| Levels | Trend | |||||||
| ©FXstreet.com | Fri, Sep 21 2012, 17:00 GMT | |||||||
| A. Narczewski | 78.00 | 79.00 | 81.00 | Sideways | Bullish | Bullish | ||
| Alberto Muñoz,PhD | 77.50 | 76.00 | 74.00 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 76.59 | 80.52 | 81.63 | Bearish | Bullish | Bullish | ||
| BoA FX, Rates and Commodities Team | - | 78.00 | 80.00 | - | Sideways | Bullish | ||
| Claudiu Cazacu | 78.70 | 79.45 | 80.70 | Bullish | Bullish | Bullish | ||
| Danske Research Team | - | 80.00 | 81.00 | - | Bullish | Bullish | ||
| DBS Group Research | - | - | 78.00 | - | - | Sideways | ||
| Derek Frey, CTA | 78.50 | 79.00 | 80.00 | Bullish | Bullish | Bullish | ||
| Esteban Mora | 79.00 | 80.00 | 81.00 | Bullish | Bullish | Bullish | ||
| Gonçalo Moreira, CMT | 78.50 | 77.00 | 76.00 | Bullish | Bearish | Bearish | ||
| Gregor Horvat | 78.50 | 80.00 | 77.00 | Bullish | Bullish | Bearish | ||
| Ilian Yotov | 78.00 | 79.00 | 80.00 | Sideways | Bullish | Bullish | ||
| J.P. Morgan Global FX Strategy | - | 78.00 | 78.00 | - | Sideways | Sideways | ||
| Mauricio Carrillo | 77.50 | 79.00 | 80.00 | Bearish | Bullish | Bullish | ||
| NAB Global Markets Research | - | 79.00 | 82.00 | - | Bullish | Bullish | ||
| Rabobank Financial Markets Research Team | - | 78.00 | 78.00 | - | Sideways | Sideways | ||
| RBC Economic Research Team | - | 76.00 | 74.00 | - | Bearish | Bearish | ||
| RBS Team | - | - | 79.00 | - | - | Bullish | ||
| Scotiabank FX Strategy Team | - | 78.00 | 80.00 | - | Sideways | Bullish | ||
| TD Securities Research Team | - | 78.00 | 79.00 | - | Sideways | Bullish | ||
| UBS FX Research Team | - | 78.00 | 78.00 | - | Sideways | Sideways | ||
| Valeria Bednarik | 78.00 | 78.00 | 80.00 | Sideways | Sideways | Bullish | ||
| Westpac Institutional Bank Team | - | 79.00 | - | - | Bullish | - | ||
| Yohay Elam | 79.00 | 79.00 | 81.00 | Bullish | Bullish | Bullish | ||
| Average | 78.15 | 78.54 | 79.10 | Sideways | Bullish | Bullish | ||
Recovery from 77.10 is impulsive, so temporary lows are in as market should recover in three waves towards 81-82 level.
Ten trillion yen QE was not enough to sustan the USD gains against the JPY. Should the USD/JPY head lower into its "intervention zone" between 75 and 78 yen, it would not be surprising to see the Bank of Japan stepping in with another interevention.
The global slowdown is helping the yen depsite bigger efforts from the BOJ to weaken the yen. Perhaps we will see some small rises now.
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.
With the BOJ now having fired the gun on a further round of easing - QE8 - there was a temporary reprieve this week but expect to see a further continuation of the downwards trend for the usdjpy with a further strengthening of the Japanese Yen.