The upside momentum in USD/JPY could see the 109.00 region re-visited in the near term, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “USD traded between 108.02 and 108.52 yesterday, narrower than our expected sideway-trading range of 108.00/108.60. The price action is viewed as an on-going consolidation phase. That said, the underlying tone has firmed somewhat and USD is likely to trade at a higher trading range of 108.10/108.65″. Next 1-3 weeks: “We indicated last Friday (11 Oct, spot at 107.85) that the top of our expected sideway trading range at 108.50 “is more vulnerable” and added, “a break of this strong level could sent USD to 109.00″. However, the rapid manner by which USD cracked 108.50 was not exactly expected (USD touched 108.61 during NY hours on Friday). While the advance appears to be running ahead of itself, the risk is for further USD strength to 109.00. Only a break of 107.50 would suggest the current upward pressure has eased”. 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 Fed’s Bullard: Trade disputes have opened a “Pandora’s box” FX Street 4 years The upside momentum in USD/JPY could see the 109.00 region re-visited in the near term, according to FX Strategists at UOB Group. Key Quotes 24-hour view: "USD traded between 108.02 and 108.52 yesterday, narrower than our expected sideway-trading range of 108.00/108.60. The price action is viewed as an on-going consolidation phase. That said, the underlying tone has firmed somewhat and USD is likely to trade at a higher trading range of 108.10/108.65". Next 1-3 weeks: "We indicated last Friday (11 Oct, spot at 107.85) that the top of our expected sideway trading range at 108.50 "is more vulnerable" and added,… 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.
