In the forecast for USD/JPY , the 50% of the experts supporting a fall turned out to be right. The pair did drop, made it to support at 111.00, as predicted by the experts, and finished the week at 111.52.
Forecast for Upcoming Week
Summarizing the views of several dozen analysts from leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
It’s obvious that the indicators point downward for USD/JPY . However, most analysts and graphical analysis on D1 reckon that the pair has almost reached its bottom and will be moving in a 110.00-113.00 sideways channel for some time.
Roman Butko, NordFX