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, Nov 16 2012, 17:00 GMT | |||||||
| A. Narczewski | 81.50 | 80.00 | 81.00 | Sideways | Bearish | Sideways | ||
| Anna Coulling | 83.26 | 84.26 | 84.89 | Bullish | Bullish | Bullish | ||
| ANZ FX Strategy Team | - | - | 78.00 | - | - | Bearish | ||
| BBVA Bancomer Team | - | 82.00 | - | - | 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 | 81.70 | 83.40 | 88.50 | Bullish | Bullish | Bullish | ||
| Danske Research EmergingMarkets Team | - | - | 83.00 | - | - | Bullish | ||
| DBS Group Research | - | - | 78.00 | - | - | Bearish | ||
| GFM Research Private Limited | 82.60 | 83.30 | 86.50 | Bullish | Bullish | Bullish | ||
| Goldman Sachs Global Investment Research | - | - | 77.00 | - | - | Bearish | ||
| Gonçalo Moreira, CMT | 81.50 | 79.00 | 80.00 | Sideways | Bearish | Bearish | ||
| Gus Farrow | 79.80 | 80.00 | 82.50 | Bearish | Bearish | Bullish | ||
| HSBC Global Research Team | - | - | 79.26 | - | - | Bearish | ||
| ICN.com analysis team | 82.25 | 84.15 | 85.50 | Bullish | Bullish | Bullish | ||
| Ilian Yotov | 81.00 | 80.00 | 80.00 | Sideways | Bearish | Bearish | ||
| ING Global Economics Team | - | 80.00 | 82.00 | - | Bearish | Bullish | ||
| J.P. Morgan Global FX Strategy | - | - | 78.00 | - | - | Bearish | ||
| Joshua Martinez | 80.00 | 82.00 | 84.00 | Bearish | Bullish | Bullish | ||
| Luc Luyet, CMT, CIIA | 80.50 | 82.00 | 82.00 | Bearish | Bullish | Bullish | ||
| Mauricio Carrillo | 82.00 | 82.00 | 85.00 | Bullish | Bullish | Bullish | ||
| NAB Global Markets Research | - | - | 78.00 | - | - | Bearish | ||
| National Bank of Canada Eco. & Strat. Team | - | - | 78.00 | - | - | Bearish | ||
| Nomura FX Research & Strategy | 80.50 | - | - | Bearish | - | - | ||
| Rabobank Financial Markets Research Team | - | 79.00 | 79.00 | - | Bearish | Bearish | ||
| RBC Economic Research Team | - | - | 75.00 | - | - | Bearish | ||
| RBS Team | - | 77.50 | 80.00 | - | Bearish | Bearish | ||
| Richard C. Lee | 82.00 | 82.25 | 84.25 | Bullish | Bullish | Bullish | ||
| Scotiabank FX Strategy Team | - | - | 80.00 | - | - | Bearish | ||
| Tad DeVan | 82.20 | 83.00 | 82.45 | Bullish | Bullish | Bullish | ||
| TD Securities Research Team | - | 79.00 | 80.00 | - | Bearish | Bearish | ||
| UBS FX Research Team | - | 80.00 | 85.00 | - | Bearish | Bullish | ||
| UniCredit Research | - | 79.00 | 81.15 | - | Bearish | Sideways | ||
| Valeria Bednarik | 82.50 | 83.00 | 81.00 | Bullish | Bullish | Sideways | ||
| Westpac Institutional Bank Team | - | 82.00 | - | - | Bullish | - | ||
| Yohay Elam | 81.00 | 81.00 | 83.00 | Sideways | Sideways | Bullish | ||
| Average | 81.52 | 80.95 | 81.18 | Sideways | Sideways | Sideways | ||
Stability above 80.00-79.80 areas will support bulls over the upcoming period.
It would not be surprising to see the USD supported against the JPY ahead of the Bank of Japan meeting on November 19 on expectations of more QE by the Japanese central bank.
USDJPY daily time frame is in a large consolidation range. Bouncing bullish to the top.
With Japanese elections likely in the first weeks of December, carry through speculation on more aggressive monetary easing will linger, weakening the yen.
The USDJPY has recently started to trend impressively bullish from comments made by Shinzo Abe, the head of Japan's Liberal Democratic Party and front runner in next month's election, who stated he wants the Bank of Japan to consider sub-zero interest rates and reverse the yen's strength.
The pair made a big move for a change. Some consolidation could precede another move, although the BOJ could bow to pressure.
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 usdjpy surged higher (as expected) breaking through the short term resistance in the 80.40 price region and now looks set for a strong move higher based on the solid platform of support below. The next target for the pair is the 84 high of March and April earlier this year.