The prospect of further gains in USD/JPY appears to have lost some momentum as of late, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “The muted price action in USD yesterday offers no fresh clues. Momentum indicators are mostly ‘neutral’ and USD could continue to trade sideways for today, likely between 107.60 and 108.00.” Next 1-3 weeks: “After soaring to a high of 108.08 on Tuesday (18 May), USD has not been able to make any headway on the upside. The consolidation over the last couple of days has dented the upward momentum but for now, we are holding on to our view that USD ‘could head higher towards 108.50’. In order to invigorate the current flagging momentum, USD has to move and stay above 108.00 or a break of the ‘strong support’ at 107.15 (no change in level) would indicate that USD has moved into a consolidation phase. To look at it another way, the prospect for further USD strength has diminished.” 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 Gold: Selling pressure in a month – OCBC FX Street 3 years The prospect of further gains in USD/JPY appears to have lost some momentum as of late, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “The muted price action in USD yesterday offers no fresh clues. Momentum indicators are mostly ‘neutral’ and USD could continue to trade sideways for today, likely between 107.60 and 108.00.” Next 1-3 weeks: “After soaring to a high of 108.08 on Tuesday (18 May), USD has not been able to make any headway on the upside. The consolidation over the last couple of days has dented the upward momentum but for now, we are… 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.
