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 28 2012, 17:00 GMT | |||||||
| A. Narczewski | 78.00 | 79.00 | 81.00 | Bullish | Bullish | Bullish | ||
| Alberto Muñoz,PhD | 76.60 | 75.60 | 74.00 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 76.59 | 80.52 | 81.63 | Bearish | Bullish | Bullish | ||
| ANZ FX Strategy Team | - | - | 76.00 | - | - | Bearish | ||
| BoA FX, Rates and Commodities Team | - | - | 78.00 | - | - | Sideways | ||
| Claudiu Cazacu | 78.10 | 79.60 | 80.90 | Bullish | Bullish | Bullish | ||
| DBS Group Research | - | - | 78.00 | - | - | Sideways | ||
| Esteban Mora | 77.00 | 78.00 | 80.00 | Bearish | Sideways | Bullish | ||
| Gonçalo Moreira, CMT | 78.50 | 77.00 | 76.00 | Bullish | Bearish | Bearish | ||
| ICN.com analysis team | 76.95 | 79.25 | 84.15 | Bearish | Bullish | Bullish | ||
| Ilian Yotov | 78.00 | 79.00 | 80.00 | Bullish | Bullish | Bullish | ||
| J.P. Morgan Global FX Strategy | - | - | 78.00 | - | - | Sideways | ||
| Joshua Martinez | 78.80 | 78.80 | 78.80 | Bullish | Bullish | Bullish | ||
| Mauricio Carrillo | 78.30 | 78.00 | 76.00 | Bullish | Sideways | Bearish | ||
| NAB Global Markets Research | - | - | 82.00 | - | - | Bullish | ||
| Rabobank Financial Markets Research Team | - | 78.00 | 78.00 | - | Sideways | Sideways | ||
| RBC Economic Research Team | - | - | 76.00 | - | - | Bearish | ||
| RBS Team | - | - | 79.00 | - | - | Bullish | ||
| Ross Yamashita | 78.00 | 76.00 | 80.00 | Bullish | Bearish | Bullish | ||
| Scotiabank FX Strategy Team | - | - | 80.00 | - | - | Bullish | ||
| TD Securities Research Team | - | - | 79.00 | - | - | Bullish | ||
| UBS FX Research Team | - | 78.00 | 78.00 | - | Sideways | Sideways | ||
| Valeria Bednarik | 78.80 | 80.00 | 82.00 | Bullish | Bullish | Bullish | ||
| Yohay Elam | 79.00 | 79.00 | 81.00 | Bullish | Bullish | Bullish | ||
| Average | 77.90 | 78.38 | 79.06 | Sideways | Bullish | Bullish | ||
A sustained breakout above 78.50 will damage bears attempts to experience 76.00 regions again.
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 USD/JPY daily timeframe is still moving in a sideways manner. I do not see a signal that would indicate a breakout. Until then, I anticipate the movement to be sideways, sideways, sideways.
Fierce statements from Japanese officials regarding yen strength could lead to lower yen.
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.
Despite best endeavours of the BOJ usdpy continues in bearish tone and with heavy selling pressure now looks set to re-test the 76 level in due course where the BOJ may step in once again.