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, Dec 14 2012, 17:00 GMT | |||||||
| A. Narczewski | 82.50 | 84.00 | 86.00 | Bearish | Bullish | Bullish | ||
| Anna Coulling | 84.10 | 85.24 | 84.35 | Bullish | Bullish | Bullish | ||
| BBVA Bancomer Team | - | 82.00 | - | - | Bearish | - | ||
| BoA FX, Rates and Commodities Team | - | 81.00 | 82.00 | - | Bearish | Bearish | ||
| BTMU Global Markets Research | - | - | 79.00 | - | - | Bearish | ||
| Capital Economics Research Team | - | 75.00 | 73.00 | - | Bearish | Bearish | ||
| Claudiu Cazacu | 84.90 | 85.70 | 88.50 | Bullish | Bullish | Bullish | ||
| Danske Research Team | - | - | 83.00 | - | - | Sideways | ||
| DBS Group Research | - | 78.00 | 78.00 | - | Bearish | Bearish | ||
| Goldman Sachs Global Investment Research | - | 80.00 | 80.00 | - | Bearish | Bearish | ||
| Gregor Horvat | 83.00 | 82.00 | 81.00 | Bearish | Bearish | Bearish | ||
| HSBC Global Research Team | - | 79.26 | - | - | Bearish | - | ||
| ICN.com analysis team | 84.15 | 85.00 | 85.00 | Bullish | Bullish | Bullish | ||
| Ilian Yotov | 84.00 | 83.00 | 84.00 | Bullish | Sideways | Sideways | ||
| ING Global Economics Team | - | 82.00 | 82.00 | - | Bearish | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 79.00 | - | - | Bearish | ||
| Luc Luyet, CMT, CIIA | 83.00 | 83.00 | 86.00 | Bearish | Sideways | Bullish | ||
| Mauricio Carrillo | 84.00 | 85.00 | 85.00 | Bullish | Bullish | Bullish | ||
| NAB Global Markets Research | - | 86.00 | 84.00 | - | Bullish | Sideways | ||
| National Bank of Canada Eco. & Strat. Team | - | 82.00 | 81.00 | - | Bearish | Bearish | ||
| Nomura FX Research & Strategy | 84.50 | - | - | Bullish | - | - | ||
| Rabobank Financial Markets Research Team | - | 78.50 | 78.50 | - | Bearish | Bearish | ||
| RBC Economic Research Team | - | 81.00 | 77.00 | - | Bearish | Bearish | ||
| RBS Team | - | 84.00 | 88.00 | - | Bullish | Bullish | ||
| Richard C. Lee | 85.30 | 85.58 | 84.00 | Bullish | Bullish | Sideways | ||
| Ross Yamashita | 84.50 | 85.50 | 88.00 | Bullish | Bullish | Bullish | ||
| Scotiabank FX Strategy Team | - | 80.00 | 82.00 | - | Bearish | Bearish | ||
| TD Securities Research Team | - | 79.00 | 80.00 | - | Bearish | Bearish | ||
| UBS FX Research Team | - | 80.00 | 85.00 | - | Bearish | Bullish | ||
| UniCredit Research | - | 79.00 | 82.00 | - | Bearish | Bearish | ||
| Valeria Bednarik | 84.20 | 86.00 | 82.00 | Bullish | Bullish | Bearish | ||
| Westpac Institutional Bank Team | - | 81.00 | - | - | Bearish | - | ||
| Yohay Elam | 84.00 | 83.00 | 85.00 | Bullish | Sideways | Bullish | ||
| Average | 84.01 | 82.10 | 82.49 | Bullish | Bearish | Bearish | ||
USDJPY is approaching some important levels back from April 2011 @85.40 and March 2012 @84.20. Keep an eye on some short-term reversals back to 82-83 level.
It would not be surprising to see the USD supported against the JPY ahead of the Japanese election on Dec. 16 and the Bank of Japan meeting on Dec. 19-20 on expectations of more QE by the Japanese central bank.
The pair keeps raging on. Note that the yen could strengthen immediately after the elections on a "buy the rumor sell the fact" effect.
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 continues to surge higher, having broken out of its sideways congestion last Wednesday and now looks set to test the 85.50 high of 2011. With the election now imminent expect to see further yen weakness as a result.