Forecasting in forex market offers greater possibilities to earn a profit. As forecasting is based on economic growth and other specific characteristics of a country, it suggests that how this country will likely to follow positive directions.
Have you ever heard about financial forecasts? The financial forecast for a business is specific to an entity. When this forecast is related to the forex market, it includes the financial status of the whole country.
People trade on different currency pairs as per their niche to earn profits. Have you checked the USD/JPY forecast today? If not, it is important to ensure that you are trading on right positions.
USD/JPY exchange rate forecasting
Japanese Yen is recognised as among the third most traded currencies in the forex market. This is obviously because of low-interest rate; it is often used as a reserve currency. In this regard, United States Dollar comes in the first place of most traded currency all over the world. USD is considered as the primary reserve currency before JPY.
Certainly, there was no exchange rate during the wartime until April 1949. Because of the war, the value reduced from its pre-war exchange rate. On 25th April 1949, the exchange rate was fixed to USD 1 equivalent to JPY 360. Today, this exchange rate has been changed, and this value is reduced around 102.06 JPY per USD.
The analysts have already forecasted the values of this currency pair and have offered greater benefits to forex traders. Check some of the forecastings of future events:
For September 2016, the maximum rate has been predicted to 106.78 while minimum will reach 101.19. In next month, maximum rate will be 104.69 and minimum rate will be 102.87.
With the possibility to change in exchange rate up to 2.5% in November 2016, the maximum rate will be 106.71 and minimum rate will be 102.07. Next month will see a maximum rate of 104.62 whereas its minimum rate will become 99.96.
If someone is willing to look at next years’ forecasting value, then it is available to certain analysts only. In January 2017, it is expected that change in exchange rate will be –0.06%. The possibility of maximum rate to reach 103.98 and minimum rate will be 99.90.
On reaching April 2017, the exchange rate will become –2.26%. The maximum rate is expected to reach 99.99, and the minimum rate will be 95.78.
If all the above predictions will match as it is, then there is a higher possibility of import and export between these two nations. With the available GDP and unemployment rate, these countries will set new horizons shortly.
Things to remember
If you are still in confusion whether these values are effective or not, it is better to take USD/JPY forecast today buy or sell. With the available value, you should start trading. This will make your process easy to understand.
Then why to wait? Check USD/JPY forecast today!
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.