Here is a summary of what some Forex experts are saying about the USD/JPY and the USD and JPY singularly.
- In the DailyFX article “US Dollar Japanese Yen Exchange Rate Forecast” written by Joel Kruger, Technical Strategist, David Rodriguez, Quantitative Strategist and Ilya Spivak, Currency Strategist, they state: “There is no evidence of the desire for the market to establish any form of a meaningful bottom despite the break to fresh multi-year lows …. However, cyclical studies are starting to look stretched and we like the idea of buying on dips below 83.00 in anticipation of a much needed and healthy corrective bounce.”
- FxStreet.com perceives the USD/JPY trend as “slightly bullish.” The USD/JPY’s positive correlation to the USD/CHF on 9/8/10 (11:15GMT) is 85.88%.
- Roger A. Stojsic (Technical Analyst, GFT) sees a short-term USD/JPY buy in his technical analysis, “Intraday Technicals: Counter-trend USD/JPY Buy.”
- The Associated Press reports dollar weakness/yen strength in its article “Dollar just above 15-year low vs Japanese yen.”
- BBC News reports, “Japan says it may intervene to curb yen’s rise.”
There is risk of loss in all trading.