The analytic team of Barclays Capital anticipates the end of the bearish retracement against the uptrend of USDJPY. It is time to go bullish USDJPY, they say.
The experts assume that the factors that caused the recent weakening of the Japanese currency are still actual. Tankan’s negative stats make the Bank of Japan stay alert. The central bank use new economic stimuli to stay in control of the situation. This will definitely make the Yen depreciate further.
They say USDJPY will reach 84.00 within a month, 88.00 within a couple of months, 90.00 within 6 months.
According to , USDJPY is still forming the retracement. The closest levels of support are 81.82, 81.29, 81.04, 80.96. A break above 83.29 will completed the retracement, thus resuming the rally.
