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, Oct 26 2012, 17:00 GMT | |||||||
| A. Narczewski | 79.50 | 80.50 | 80.00 | Sideways | Bullish | Sideways | ||
| Alberto Muñoz,PhD | 80.60 | 82.00 | 84.00 | Bullish | Bullish | Bullish | ||
| Anna Coulling | 81.42 | 82.82 | 84.03 | Bullish | Bullish | Bullish | ||
| BoA FX, Rates and Commodities Team | - | - | 78.00 | - | - | Bearish | ||
| BTMU Global Markets Research | - | - | 79.00 | - | - | Bearish | ||
| Capital Economics Research Team | - | - | 75.00 | - | - | Bearish | ||
| Claudiu Cazacu | 80.40 | 84.00 | 89.00 | Bullish | Bullish | Bullish | ||
| DBS Group Research | - | - | 78.00 | - | - | Bearish | ||
| Dr. S. Sivaraman | 80.45 | 84.32 | 91.65 | Bullish | Bullish | Bullish | ||
| GFM Research Private Limited | - | 80.70 | 83.30 | - | Bullish | Bullish | ||
| Goldman Sachs Global Investment Research | - | - | 77.00 | - | - | Bearish | ||
| Gonçalo Moreira, CMT | 79.50 | 78.00 | 77.00 | Sideways | Bearish | Bearish | ||
| HSBC Global Research Team | - | - | 79.31 | - | - | Sideways | ||
| ICN.com analysis team | 80.75 | 80.75 | 82.25 | Bullish | Bullish | Bullish | ||
| Ilian Yotov | 78.00 | 79.00 | 80.00 | Bearish | Bearish | Sideways | ||
| ING Global Economics Team | - | - | 77.00 | - | - | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 78.00 | - | - | Bearish | ||
| Luc Luyet, CMT, CIIA | 80.00 | 80.50 | 81.50 | Bullish | Bullish | Bullish | ||
| Mauricio Carrillo | 80.60 | 79.00 | 80.00 | Bullish | Bearish | Sideways | ||
| NAB Global Markets Research | - | - | 82.00 | - | - | Bullish | ||
| National Bank of Canada Eco. & Strat. Team | - | - | 77.00 | - | - | Bearish | ||
| Rabobank Financial Markets Research Team | - | 78.50 | 78.50 | - | Bearish | Bearish | ||
| RBC Economic Research Team | - | - | 76.00 | - | - | Bearish | ||
| RBS Team | - | - | 77.50 | - | - | Bearish | ||
| Ross Yamashita | 78.50 | 81.00 | 85.00 | Bearish | Bullish | Bullish | ||
| Scotiabank FX Strategy Team | - | - | 80.00 | - | - | Sideways | ||
| TD Securities Research Team | - | - | 79.00 | - | - | Bearish | ||
| UBS FX Research Team | - | 78.00 | 78.00 | - | Bearish | Bearish | ||
| UniCredit Research | - | - | 79.00 | - | - | Bearish | ||
| Valeria Bednarik | 79.40 | 78.80 | 78.00 | Sideways | Bearish | Bearish | ||
| Westpac Institutional Bank Team | - | 81.00 | - | - | Bullish | - | ||
| Yohay Elam | 81.00 | 80.00 | 81.00 | Bullish | Bullish | Bullish | ||
| Average | 80.01 | 80.52 | 80.16 | Bullish | Bullish | Bullish | ||
swing and quick gain moves may be seen
Our previous detected technical objective at 80.00 psychological level was reached after stabilizing above SMA 100. A break above 80.50-80.75 will ease the path toward 81.50 followed by 82.25 and 84.15 is our main target.
It would not be surprising to see the USD supported against the JPY ahead of the Bank of Japan meeting on October 30 on expectations of more QE by the Japanese central bank. But if history repeats itself, the USD could weaken in the aftermath of the announcement.
The pair could stop for a short break. New Japanese QE supports the pair.
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.
The dollar yen duly surged higher, as expected much to the relief of the bank of Japan. This bullish momentum should now follow through in this week's trading and in the longer term we can expect to see a test of the 84.18 high of March 2012.