The most accurate analyst predicts that the exchange rate of the Japanese yen against the U.S. dollar will depreciate to a minimum of 170 next year.

In the latest Bloomberg ranking, the analyst who is most accurate in predicting the USD to JPY exchange rate believes that the Japanese yen will fall to a low of 170 against the dollar next year. His forecasting model pays little attention to news, mainly relying on technical analysis. Vikram Murarka, the founder and chief currency strategist of Kshitij Consultancy Services, predicts the yen's movement from his office in Kolkata, India, thousands of miles away from Tokyo. In the previous quarter's survey, he was the most accurate in predicting the USD to JPY exchange rate and was one of the few analysts who predicted it would fall below 160. The strategist mentioned that one of his advantages is focusing on market signals rather than every news release from the Japanese Ministry of Finance or Prime Minister's Office. His office desk is covered with screens displaying charts tracking variables such as the Nikkei 225 index to the Dow Jones index ratio, short-term interest rate differentials, and the RMB to JPY exchange rate. "We don't pay much attention to news," Murarka said, using a similar approach to predict the Euro to USD exchange rate, where he ranked second. He stated that any factor we track should be reflected in the price chart.