In opinion of FX Strategists at UOB Group, USD/JPY could recede further and visit the 102.00 zone in the near-term. Key Quotes 24-hour view: “Our expectation for the ‘rebound in USD to edge above 103.30’ was incorrect as it slumped to 102.59 before closing on a soft note at 102.72 (-0.37%). While downward momentum has not improved by all that much, the risk is for USD to weaken further even though 102.30 could be out of reach. Resistance is at 102.90 followed by 103.15.” Next 1-3 weeks: “We highlighted yesterday (05 Jan, spot at 103.10) that the ‘risk is still for a lower USD but 102.60 may not break so soon’. We added, USD ‘is deemed to be under mild downward pressure as long as it does not move above 103.65’. However, USD lurched lower and edged below 102.60 (overnight low of 102.59). Downward momentum has improved and there is room for USD to weaken to 102.30, possibly 102.00. Overall, downward pressure has increased as long as USD does not move above 103.35 (‘strong resistance’ level previously at 103.65).” 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 GBP/USD jumps to two-day tops, just above mid-1.3600s FX Street 1 year In opinion of FX Strategists at UOB Group, USD/JPY could recede further and visit the 102.00 zone in the near-term. Key Quotes 24-hour view: “Our expectation for the ‘rebound in USD to edge above 103.30’ was incorrect as it slumped to 102.59 before closing on a soft note at 102.72 (-0.37%). While downward momentum has not improved by all that much, the risk is for USD to weaken further even though 102.30 could be out of reach. Resistance is at 102.90 followed by 103.15.” Next 1-3 weeks: “We highlighted yesterday (05 Jan, spot at 103.10) that the ‘risk 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.