The person Bloomberg ranks as the single most accurate dollar-yen forecaster in the world works out of Kolkata, India, uses technical analysis as his primary tool, and thinks USD/JPY is heading to 170. With the pair currently trading around 162, that implies roughly another 5% decline in the yen, a move that would carry consequences well beyond the forex market.
Vikram Murarka of Kshitij Consultancy Services earned Bloomberg’s top spot by doing something most Wall Street desks failed to do: he called the yen’s slide past 160 before it happened. Now he’s saying the ride isn’t over.
Charts over central banks
Murarka’s framework is almost entirely technical, driven by price patterns and trend analysis rather than economic data releases.
Kit Juckes of Societe Generale has made similar observations, noting that projections like these can validly predict “overshoots.” In English: currencies don’t always stop at fair value. They blow past it, especially when momentum traders and algorithmic systems pile into the same directional bet.
