USD/JPY is expected to accelerate its upside on a breakout of the 106.00 level, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected USD to strengthen yesterday but held the view that ‘a clear break of 106.00 is unlikely’. While USD strengthened as expected, it dropped back quickly after touching a high of 105.80.The swift pull-back from the high amid improving downward momentum suggests the bias for today is tilted to the downside. From here, barring a move above 105.80 (minor resistance is at 105.65), USD could edge downward to 105.25, with lower odds for extension to 105.10.” Next 1-3 weeks: “Our latest narrative was from last Friday (25 Sep, spot at 105.45) wherein USD ‘is in a correction phase but a sustained advance is likely only if there is a clear break of 106.00’. Shorter-term momentum is beginning to improve and from here, if USD were to close above 106.00, it could trigger a stronger recovery to 106.45. The probability for such a scenario is not that high for now but it would improve quickly as long USD does not move below 105.10 within these few days.” 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 Oil: Inventory draws, flat production and risk appetite to spell WTI upside towards $41.70 – TDS FX Street 2 years USD/JPY is expected to accelerate its upside on a breakout of the 106.00 level, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected USD to strengthen yesterday but held the view that ‘a clear break of 106.00 is unlikely’. While USD strengthened as expected, it dropped back quickly after touching a high of 105.80.The swift pull-back from the high amid improving downward momentum suggests the bias for today is tilted to the downside. From here, barring a move above 105.80 (minor resistance is at 105.65), USD could edge downward to 105.25, with lower odds for extension… 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.