FX Strategists at UOB Group expect USD/JPY to trade within a side-line theme in the near-term. Key Quotes 24-hour view: “USD staged a sudden and sharp jump as it closed higher by +0.77% (109.51). The advance appears to be running ahead of itself but there is room for USD to test 109.70 first before easing off. Support is at 109.20 followed by 109.00”. Next 1-3 weeks: “Despite the relatively sharp USD decline to 108.30 last Friday, we indicated on Monday (03 Feb, spot at 108.45) that ‘downward momentum has not improved by as much’ and added, the ‘the prospect for a move to last month’s low near 107.65 is not high’. That said, the manner by which USD rocketed to a high of 109.54 yesterday came as a surprise (the +0.77% gain is the largest 1-day rise in 6 months). Downward pressure has dissipated but the near-term outlook is unclear. From here, USD is expected to trade sideways for a period, likely between the two major levels of 108.30 and 110.30.” 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 Risk rally picks up steam with European stocks and US T-bond yields posting strong gains FX Street 2 years FX Strategists at UOB Group expect USD/JPY to trade within a side-line theme in the near-term. Key Quotes 24-hour view: “USD staged a sudden and sharp jump as it closed higher by +0.77% (109.51). The advance appears to be running ahead of itself but there is room for USD to test 109.70 first before easing off. Support is at 109.20 followed by 109.00”. Next 1-3 weeks: “Despite the relatively sharp USD decline to 108.30 last Friday, we indicated on Monday (03 Feb, spot at 108.45) that ‘downward momentum has not improved by as much’ and added, the ‘the prospect for… 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.
