A move to the sub-109.00 area in USD/JPY appears unlikely in the near-term, commented UOB Group’s FX Strategists. Key Quotes 24-hour view: “The sharp decline in USD to 109.23 came as a surprise (we expecting USD to retest the resistance at 109.95). Despite the decline, downward momentum has barely improved. In other words, USD is unlikely to weaken further. For today, USD is more likely to trade sideways between 109.30 and 109.70.” Next 1-3 weeks: “There is not much to add to our update from yesterday (12 Apr, spot at 109.65). As highlighted, the downside risk in USD is still intact but waning downward momentum suggests the “chance for a sustained decline below 109.00 is not high”. However, only a break of 110.10 (‘strong resistance’ level was at 110.35 yesterday) would indicate that the downside risk has dissipated.” 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 retraces below 1.1900 ahead of US CPI data FX Street 2 years A move to the sub-109.00 area in USD/JPY appears unlikely in the near-term, commented UOB Group's FX Strategists. Key Quotes 24-hour view: "The sharp decline in USD to 109.23 came as a surprise (we expecting USD to retest the resistance at 109.95). Despite the decline, downward momentum has barely improved. In other words, USD is unlikely to weaken further. For today, USD is more likely to trade sideways between 109.30 and 109.70." Next 1-3 weeks: "There is not much to add to our update from yesterday (12 Apr, spot at 109.65). As highlighted, the downside risk in USD is still… 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.
