The upside momentum in USD/JPY could see the 107.90 tested in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected USD to trade sideways between 106.70/107.20 yesterday. However, after touching 106.75, USD rose to 107.26 before ending the day on a firm note at 107.23 (+0.31%). The advance has scope to extend higher but any advance is expected to face strong resistance at 107.55 (the next resistance at 107.90 is unlikely to come into the picture for now). Support is at 107.00 followed by yesterday’s 106.75 low”. Next 1-3 weeks: “USD closed on a firm note and at a 6-week high of 107.23 (+0.31%) yesterday (09 Sep). The price action reinforces our view from last Friday (06 Sep, spot at 107.00) wherein the “rebound in USD has scope to extend to 107.90″. While the prospect for a sustained rise above 107.90 is still not that high, it would continue to improve as long as 106.30 is intact (no change in strong support level). On a shorter-term note, 106.75 is already a strong support level”. 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 Iraq’s OilMin: Ready and committed to comply with oil output cut FX Street 4 years The upside momentum in USD/JPY could see the 107.90 tested in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "We expected USD to trade sideways between 106.70/107.20 yesterday. However, after touching 106.75, USD rose to 107.26 before ending the day on a firm note at 107.23 (+0.31%). The advance has scope to extend higher but any advance is expected to face strong resistance at 107.55 (the next resistance at 107.90 is unlikely to come into the picture for now). Support is at 107.00 followed by yesterday's 106.75 low". Next 1-3 weeks: "USD closed on a… 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.
