The potential test of the 108.40 in USD/JPY appears to be losing momentum as of late, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “USD flat-lined last Friday as it traded within a tight range of 14 pips (between 107.42 and 107.56), the smallest 1-day range this year. USD opened on a relatively firm note this morning and it could grind higher towards 107.85. For today, the next resistance at 108.15 is unlikely to come into the picture. Support is at 107.40 followed by 107.25.” Next 1-3 weeks: “We highlighted on Tuesday (30 Jun, spot at 107.70) that ‘upward momentum is beginning to improve and USD could strengthen towards 108.40’. USD subsequently rose to a high of 108.14 before dropping back quickly and over the past couple of days, traded mostly sideways. Upward momentum has eased but only a break of 107.00 (no change in ‘strong support’ level) would indicate that the upside risk has dissipated. In other words, there is still chance for USD to move to 108.40 even though the odds for such a scenario have diminished.” 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 USD/JPY eases from tops, up little around 107.55-60 region FX Street 3 years The potential test of the 108.40 in USD/JPY appears to be losing momentum as of late, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “USD flat-lined last Friday as it traded within a tight range of 14 pips (between 107.42 and 107.56), the smallest 1-day range this year. USD opened on a relatively firm note this morning and it could grind higher towards 107.85. For today, the next resistance at 108.15 is unlikely to come into the picture. Support is at 107.40 followed by 107.25.” Next 1-3 weeks: “We highlighted on Tuesday (30 Jun, spot at 107.70) that… 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.
