Comments and forex-analytics from FBS Brokerage Company - page 75
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Commerzbank: comments on GBP/USD
Technical analysts at Commerzbank believe that British pound has finished its upward correction versus the greenback from 1-year minimum at $1.5325 hit on September 22 as it reached this week the levels in the $1.5700 area.
The specialists think that GBP/USD will resume its decline. In their view, the sell-off of sterling will be triggered when it dips below $1.5500.
According to the bank, support for the pair is found at $1.5297. In the longer term, British currency is poised down to the 2009-2011 uptrend line at $1.4973.
Mizuho: USD/JPY will fall to 60 yen in 2013
Currency analysts at Mizuho Corporate Bank say that the greenback may fall to 60 yen in 2013 basing their conclusions on USD/JPY dynamics during the past 40 years.
The specialists note that US dollar has bottomed out around 30% below the preceding minimum on four occasions since 1971 experiencing slumps by 100, 80, 60 and 40 yen.
US currency was at 360 yen until the gold standard was ended in 1971. Then it slid to 254.45 yen in 1973, 177.05 yen in 1978, 121.25 yen in 1987 and 79.75 yen in 1995.
According to Mizuho, in 2 years this will happen for the fifth time: USD/JPY will fall by 20 yen from the previous minimum at 79.75 yen hit on August 19.