FX Strategists at UOB Group noted USD/JPY should remain within a consolidative theme for the time being. Key Quotes 24-hour view: “Expectation for USD to “test the 105.60 support” was incorrect as it rebounded strongly to 106.43. While upward momentum has not improved by much, the recovery has room to extend higher. That said, last week’s top near 106.70 is likely out of reach. Support is at 106.20 followed by 105.95″. Next 1-3 weeks: “After the spectacular rebound from 104.44 last Monday (Aug 26), the price action in USD has been mixed. The movement offers no fresh clues and for now, we continue to hold the same view since 27 Aug (spot at 106.00) wherein USD is expected to “trade sideways and within a broad range between 105.00 and 107.00 for a while more”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD rally may falter as trade hopes rise Yohay Elam 4 years FX Strategists at UOB Group noted USD/JPY should remain within a consolidative theme for the time being. Key Quotes 24-hour view: "Expectation for USD to "test the 105.60 support" was incorrect as it rebounded strongly to 106.43. While upward momentum has not improved by much, the recovery has room to extend higher. That said, last week's top near 106.70 is likely out of reach. Support is at 106.20 followed by 105.95". Next 1-3 weeks: "After the spectacular rebound from 104.44 last Monday (Aug 26), the price action in USD has been mixed. The movement offers no fresh clues and for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
