USD/JPY is likely to trade within the 103.00-104.40 range in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While our expectation for the sharp drop in USD to ‘extend lower’ was not wrong, it rebounded after touching 103.51 (we were expecting a test of 103.25). Momentum indicators are neutral and USD is expected to trade sideways for today, likely between 103.70 and 104.10.” Next 1-3 weeks: “After rising strongly for four days in a row, the sudden and sharp drop in USD yesterday (12 Jan) came as a surprise. While our ‘strong support’ level at 103.50 is still intact, the rapid loss in momentum indicates that the positive phase that started last week has ended sooner than expected (we were expecting a break of 104.60). The strong but short-lived advance and the subsequent sharp drop has resulted in a mixed outlook. From here, USD could trade between 103.00 and 104.40.” 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 EUR/USD: Biden and Powell to propel the dollar FX Street 2 years USD/JPY is likely to trade within the 103.00-104.40 range in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While our expectation for the sharp drop in USD to ‘extend lower’ was not wrong, it rebounded after touching 103.51 (we were expecting a test of 103.25). Momentum indicators are neutral and USD is expected to trade sideways for today, likely between 103.70 and 104.10.” Next 1-3 weeks: “After rising strongly for four days in a row, the sudden and sharp drop in USD yesterday (12 Jan) came as a surprise. While our ‘strong support’ level at… 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.
