FX Strategists at UOB Group expect USD/JPY to extend the sideline theme in the next weeks. Key Quotes 24-hour view: “Expectation for USD to “test 106.00 first” did not materialize as it rose to an overnight high of 106.64. While upward momentum has not improved by much, the advance has room to extend higher. However, 107.00 is a solid resistance and this level is unlikely to yield so easily. Support is at 106.35 followed by 106.20″. Next 1-3 weeks: “USD recovered most of Tuesday’s (20 Aug) drop as it rebounded and closed higher at 106.61 (+0.36%). The price action is line with our view as we indicated in recent updates that “mixed indicators suggest USD could trade sideways for period and only a clear break out of the expected 105.50/107.30 sideway trading range would indicate that USD is ready for a sustained directional move”. In other words, there is no change in our view”. 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 USD/JPY slides to the lower end of a 4-day old trading range, farther below mid-106.00s FX Street 4 years FX Strategists at UOB Group expect USD/JPY to extend the sideline theme in the next weeks. Key Quotes 24-hour view: "Expectation for USD to "test 106.00 first" did not materialize as it rose to an overnight high of 106.64. While upward momentum has not improved by much, the advance has room to extend higher. However, 107.00 is a solid resistance and this level is unlikely to yield so easily. Support is at 106.35 followed by 106.20". Next 1-3 weeks: "USD recovered most of Tuesday's (20 Aug) drop as it rebounded and closed higher at 106.61 (+0.36%). The price action is… 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.
