Community Forecasts November 23-27 : USD/JPY 1W Chart - Community Forecasts - Dukascopy Bank

Tue, 17 Nov 2015 16:14:07 GMT
Source: Dukascopy Bank SA
 
© Dukascopy Bank SA
Last week almost 93% of Dukascopy community members were expecting the USD/JPY to perform a solid rally over the week, however, the pair lost around 150 pips during the week.
This time, traders are bearish on the pair, though, the percentage of those, who expect an appreciation, declined to 43%. Nonetheless, the price is forecasted to end this week at 122.8, just slightly above the weekly pivot. Traders are also not univocal in their forecasts, as Jignesh suggested "The Dollar was little changed against the Yen late Friday, with USD/JPY at 122.6, off Monday's two-and-a-half month highs of 123.59." On the contrary, Panzer sees a strong upside trend "The USD/JPY has a power that can be seen in several important positive data we have seen from the US. The failure of the financial effects on the market by the BOJ was visible, in order to encourage inflation and economic growth, the strength was given to the USD continuity."
Concerning the economic data releases, on Thursday, the Bank of Japan is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. The US, from its side, is to release reports on inflation and industrial production on Tuesday. The next day, the data on building permits and housing starts will be closely observed.

© Dukascopy Bank SA

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