FX Strategists at UOB Group keep the constructive view on USD/JPY and see a probable move to the 109.00 region in the near term. Key Quotes 24-hour view: “While our view for a stronger USD last Friday was correct, the subsequent advance exceeded our expectation as it managed to crack the strong 108.50 level and touched a 2-1/2 month high of 108.61. The rally is running ahead itself and for today, further USD strength is unlikely. USD is more likely to consolidate its gains and trade sideways at these higher levels, expected to be between 108.00 and 108.60″. 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 China: What’s next after the trade talks – ING FX Street 4 years FX Strategists at UOB Group keep the constructive view on USD/JPY and see a probable move to the 109.00 region in the near term. Key Quotes 24-hour view: "While our view for a stronger USD last Friday was correct, the subsequent advance exceeded our expectation as it managed to crack the strong 108.50 level and touched a 2-1/2 month high of 108.61. The rally is running ahead itself and for today, further USD strength is unlikely. USD is more likely to consolidate its gains and trade sideways at these higher levels, expected to be between 108.00 and 108.60". Next 1-3… 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.
