USD/JPY is now facing risks of further consolidation around current levels, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “USD traded between 108.43 and 108.72 yesterday, narrower than our expected sideway-trading range of 108.35/108.80. The subsequent soft daily closing in NY (108.47) has increased the risk of a pullback towards 108.05. For today, the next support at 107.80 is not expected to come into the picture. On the upside, 108.80 is expected to be strong enough to cap any intraday USD strength”. Next 1-3 weeks: “There is not much to add to the update from Monday (21 Oct, spot at 108.40) as USD traded in a relatively quickly manner yesterday. As highlighted, the recent USD strength has run its course and USD is likely to trade sideways within a 107.80/109.00 range for now. Downward momentum has picked up slightly and the risk for the next few days is for USD to probe the bottom of the expected range at 107.80. At this stage, the prospect for a sustained decline below this level is not high”. 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 IOTA price analysis: IOT/USD loses ground, moves within the recent channel FX Street 3 years USD/JPY is now facing risks of further consolidation around current levels, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "USD traded between 108.43 and 108.72 yesterday, narrower than our expected sideway-trading range of 108.35/108.80. The subsequent soft daily closing in NY (108.47) has increased the risk of a pullback towards 108.05. For today, the next support at 107.80 is not expected to come into the picture. On the upside, 108.80 is expected to be strong enough to cap any intraday USD strength". Next 1-3 weeks: "There is not much to add to the update from Monday (21 Oct,… 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.
