Essay: 30 Days Forecast of US Dollar

Sample Essay

The short term forecast for any currency or commodity is based on the supply and demand factors and the short term technical analysis. The recent decline of the Japanese Yen in the last 30 to 45 days indicates that the demand for dollar is quite low and that for Japanese Yen it is much higher.

This pattern of supply and demand is most likely to continue for at least another 30 days before long term effects can start to be seen in the market. Historical data shows that the Yen started at a level of 98.07 in March of this year and touched a peak of 100.74 before starting a decline throughout the year registering lowest levels this month at 90.4.This indicates both a short term and long term decline of the Dollar against the Yen in months and years to come as the Yen will continue its rise against the dollar based on strong technical and fundamental data.  . The short term forecast is also based on the signaling factor from futures and options trading in the currency which indicates a bearish trend for the short term period. The current price of the Japanese Yen is 92.60 and the short term forecast indicates that the value of the Japanese Yen will reach close to a level of 90.4 and even falling to the support level of 89.22 in 30 days.

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