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11 Apr 2013
Foreex Flahs: BTMU expects USD/JPY to move close to the 110.00 in the Q4
FXstreet.com (San Francisco) - Now that the USD/JPY is kissing the so-called 100.00 level after advancing 725 pips since April 4th low at 92.70, market is asking what will happen with the pair above the 100.00 level. The most important resistance levels above here is the Novemeber 2008 high at 100.55 and the April 2009 high at 101.43.
But the BTMU analysts believe that the USD/JPY has more space to gain in the incomming months. BTMU expects "the core range of the USD/JPY to move close to the JPY110 level, in Q4 2013 and Q1 2014 due to Governor Kuroda’s QQE measures," the bank states.
More accurate, the Bank expectations are as follow: 1-month up to 102.00; 3-month down to 100.00; 6-month advance again to 104.00 and the 1-year forecast at the 109.00 level.
But the BTMU analysts believe that the USD/JPY has more space to gain in the incomming months. BTMU expects "the core range of the USD/JPY to move close to the JPY110 level, in Q4 2013 and Q1 2014 due to Governor Kuroda’s QQE measures," the bank states.
More accurate, the Bank expectations are as follow: 1-month up to 102.00; 3-month down to 100.00; 6-month advance again to 104.00 and the 1-year forecast at the 109.00 level.