FX Strategists at UOB Group still see USD/JPY attempting a move to the 108.50 in the next weeks. Key Quotes 24-hour view: “Yesterday, we expected USD to ‘rise to 108.15 first before a pullback can be expected’. Our expectation did not materialize as USD drifted lower from a high of 107.98. Momentum indicators have turned ‘neutral’ and for today, USD is expected to consolidate and trade between 107.35 and 108.00.” Next 1-3 weeks: “After trading in a quiet manner for about a week, USD was jolted awake as it surged past the major 107.80 resistance (high of 108.08) before closing at 107.68 in NY (+0.33%). While we would prefer a daily closing above 107.80, the rapid pick-up in momentum suggests USD could head higher towards 108.50 in the coming days. At this stage, the prospect for a move to the next resistance at 108.90 is slim. Overall, the outlook for USD is positive as long as the ‘strong support’ at 107.15 is not taken out.” 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 Silver: An explosive performance – TDS FX Street 2 years FX Strategists at UOB Group still see USD/JPY attempting a move to the 108.50 in the next weeks. Key Quotes 24-hour view: “Yesterday, we expected USD to ‘rise to 108.15 first before a pullback can be expected’. Our expectation did not materialize as USD drifted lower from a high of 107.98. Momentum indicators have turned ‘neutral’ and for today, USD is expected to consolidate and trade between 107.35 and 108.00.” Next 1-3 weeks: “After trading in a quiet manner for about a week, USD was jolted awake as it surged past the major 107.80 resistance (high of 108.08) before closing… 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.
