In opinion of FX Strategists at UOB Group, USD/JPY has moved to a consolidative phase, likely between 106.80 and 108.05. Key Quotes 24-hour view: “Our expectation for AUD to ‘grind higher towards 107.85’ did not materialize as it dropped quickly after touching 107.77 (overnight low of 107.24). The underlying tone has weakened and from here, USD could drift lower. However, the strong support at 107.00 is unlikely to come under threat. Resistance is at 107.55 followed by 107.75.” Next 1-3 weeks: “We highlighted last Friday (03 Jul, spot at 107.50) that the odds for USD to move to 108.40 have diminished. While our ‘strong support’ level at 107.00 is still intact, upward momentum has more or less dissipated. The current movement is deemed as part of a consolidation phase and USD could trade between 106.80 and 108.05 for a period.” 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 WTI eases from two-week top ahead of API stockpile data FX Street 3 years In opinion of FX Strategists at UOB Group, USD/JPY has moved to a consolidative phase, likely between 106.80 and 108.05. Key Quotes 24-hour view: “Our expectation for AUD to ‘grind higher towards 107.85’ did not materialize as it dropped quickly after touching 107.77 (overnight low of 107.24). The underlying tone has weakened and from here, USD could drift lower. However, the strong support at 107.00 is unlikely to come under threat. Resistance is at 107.55 followed by 107.75.” Next 1-3 weeks: “We highlighted last Friday (03 Jul, spot at 107.50) that the odds for USD to move to 108.40 have… 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.
