The upside momentum in USD/JPY could likely extend to the 108.60 level in the next weeks. Key Quotes 24-hour view: “We expected USD to move higher yesterday but the sudden surge that sent it rocketing to 107.98 came as a surprise (we were of the view that 107.35 is likely out of reach). The swift and sharp rally appears to be running ahead of itself but there is room for USD to test the major resistance near 108.15. For today, a sustained rise above this level is unlikely. On the downside, 107.35 is expected to hold for today (minor support is at 107.55).” Next 1-3 weeks: “We turned positive USD late last week. As USD ground higher, we noted on Tuesday (02 Mar, spot at 106.80) that the ‘outlook for USD is still positive’ but ‘lackluster shorter-term momentum suggests a slow pace of advance and 107.35 may not come into the picture so soon’. In other words, while we expected a stronger USD, we did not anticipate the sudden overnight surge that sent it rocketing to 107.98 (note that USD posted its largest 1-day gain since Nov last year). Strong boost in momentum is likely to lead to further USD strength to 108.15. The next resistance above this level is at 108.60. Overall, the current positive phase in USD appears to have room to run unless it breaks below 106.95 (‘strong support’ level was at 106.40 yesterday).” 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 Chainlink Price Prediction: LINK dances at the edge of a high cliff as breakdown under $20 looms FX Street 1 year The upside momentum in USD/JPY could likely extend to the 108.60 level in the next weeks. Key Quotes 24-hour view: "We expected USD to move higher yesterday but the sudden surge that sent it rocketing to 107.98 came as a surprise (we were of the view that 107.35 is likely out of reach). The swift and sharp rally appears to be running ahead of itself but there is room for USD to test the major resistance near 108.15. For today, a sustained rise above this level is unlikely. On the downside, 107.35 is expected to hold for today (minor support… 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.