In opinion of FX Strategists at UOB Group, USD/JPY is still seen navigating within the current consolidative theme in the next weeks. Key Quotes 24-hour view: “We expected USD to ‘trade in a listless manner between 107.50 and 108.00’ yesterday. It subsequently traded within a narrower range than expected (between 107.56 and 107.89). The consolidation phase over the past several days appears to be coming to an end. From here, barring a move above 108.00 (minor resistance at 107.75), USD could drop towards 107.20. The next support at 107.00 is likely out of reach.” Next 1-3 weeks: “USD continues to trade in a quiet manner and the build-up in momentum from last week has dissipated. This was not exactly surprising as we indicated last Friday (22 May, spot at 107.70) that the prospect for further USD strength has diminished. The current movement is viewed as part of a consolidation phase and only a daily closing out of the expected 107.00/108.00 range would suggest the start of a more sustained movement in USD. In other words, USD is likely to trade sideways for now.” 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 WTI struggles to cheer USD weakness, drops 1.40% in Asia FX Street 3 years In opinion of FX Strategists at UOB Group, USD/JPY is still seen navigating within the current consolidative theme in the next weeks. Key Quotes 24-hour view: “We expected USD to ‘trade in a listless manner between 107.50 and 108.00’ yesterday. It subsequently traded within a narrower range than expected (between 107.56 and 107.89). The consolidation phase over the past several days appears to be coming to an end. From here, barring a move above 108.00 (minor resistance at 107.75), USD could drop towards 107.20. The next support at 107.00 is likely out of reach.” Next 1-3 weeks: “USD continues to… 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.
