USD/JPY (99.08) â€“ Weekly Forecast
Weekly forecast levels: 96.25/101.90
Trend for the week â€“ Neutral/Downward
Market Focus: Tertiary Industry Activity Index, All Industries Activity Index.
Weekly Strategy: The yen gain too fast against the dollar as break below the psychological level of 100. Bank of Japan still wait a good moment to start with intervention. The Japan economy is not so strong as the strong yen and this high level of the Japan national currency probably will hurt the export economy of Japan. Bank of Japan is not intervention on the market since 2004, but it seems that the time for new intervention come. The forecast without intervention is for continue yen gains to levels below 97.