In light of the ongoing performance in USD/JPY, FX Strategists at UOB Group suggested it could re-visit the 109.50 region in the next weeks. Key Quotes 24-hour view: “USD edged to a high of 108.97 before ending the day on a firm note at 108.90 (+0.24%). Upward momentum has picked up and USD could extend its gains towards 109.15. For today, a move beyond the next resistance at 109.30 is unlikely. Support is at 108.75 followed by 108.60″. Next 1-3 weeks: “USD closed on a firm note yesterday (108.90, +0.23%) and the recent downward pressure has eased (we previously expected USD to trade with a downward bias towards 108.00). From here, USD is likely to trade sideways even though the uptick in momentum suggests it is likely to probe the top of the expected 108.50/109.50 range first”. 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 IEA’s Birol: Hope OPEC will make right decision for themselves and global economy FX Street 3 years In light of the ongoing performance in USD/JPY, FX Strategists at UOB Group suggested it could re-visit the 109.50 region in the next weeks. Key Quotes 24-hour view: "USD edged to a high of 108.97 before ending the day on a firm note at 108.90 (+0.24%). Upward momentum has picked up and USD could extend its gains towards 109.15. For today, a move beyond the next resistance at 109.30 is unlikely. Support is at 108.75 followed by 108.60". Next 1-3 weeks: "USD closed on a firm note yesterday (108.90, +0.23%) and the recent downward pressure has eased (we previously expected… 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.
