In view of FX Strategists at UOB Group, USD/JPY is noe targeting the 108.50 region in the near term. Key Quotes 24-hour view: “The strong surge in USD that touched 108.01 came as a surprise. The rapid rise has picked up considerable momentum and USD could extend its advance to 108.20. The major 108.50 level is unlikely to come into the picture. Support is at 107.55 but the stronger level is at 107.30″. Next 1-3 weeks: “We indicated yesterday (10 Oct, spot at 107.20) that USD has “moved back into a sideway-trading phase” and is expected to trade between the two major levels of 106.50 and 108.50. While there is no change to our view, the strong advance of +0.46% (107.96) yesterday was not exactly expected. The price action suggests 108.50 is vulnerable and a break of this strong level could sent USD to 109.00 (note that 108.50 was tested in Sep and earlier this month and held both times). At this stage, the prospect for such a scenario is not high but it would increase quickly as long USD can hold above 107.00 within these few days”. 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 Forex News Today: Daily Trading News share Read Next ECB: Divided committee – Deutsche Bank FX Street 4 years In view of FX Strategists at UOB Group, USD/JPY is noe targeting the 108.50 region in the near term. Key Quotes 24-hour view: "The strong surge in USD that touched 108.01 came as a surprise. The rapid rise has picked up considerable momentum and USD could extend its advance to 108.20. The major 108.50 level is unlikely to come into the picture. Support is at 107.55 but the stronger level is at 107.30". Next 1-3 weeks: "We indicated yesterday (10 Oct, spot at 107.20) that USD has "moved back into a sideway-trading phase" and is expected to trade between the… 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.
