USD/JPY stays rangebound and keeps targeting the mid-107.00s in the short-term horizon, in opinion of FX Strategists at UOB Group. Key Quotes 24-hour view: “Last Friday, we expected USD to ‘move above the strong resistance at 107.15’. Our view was wrong as it plummeted to a low of 106.42 after touching 107.03. The build-up in upward momentum has dissipated and the current movement is viewed as part of a consolidation phase. In other words, USD is expected to trade sideways for today, likely between 106.30 and 106.90.” Next 1-3 weeks: “On Wednesday (12 Aug, spot at 106.50), we noted the ‘rapid improvement in momentum’ and expected USD to ‘strengthen towards 107.15’. USD rose to a high of 107.04 yesterday (13 Aug) and from here, a move above 107.15 would not be surprising. The next resistance at 107.50 is a more formidable level and may not be easy to break. Overall, the current positive phase in USD is deemed as intact as long USD does not move below 106.20 (‘strong support’ level was previously at 105.85).” 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: US fiscal impasse to let a leg higher toward 1.19 – OCBC FX Street 2 years USD/JPY stays rangebound and keeps targeting the mid-107.00s in the short-term horizon, in opinion of FX Strategists at UOB Group. Key Quotes 24-hour view: “Last Friday, we expected USD to ‘move above the strong resistance at 107.15’. Our view was wrong as it plummeted to a low of 106.42 after touching 107.03. The build-up in upward momentum has dissipated and the current movement is viewed as part of a consolidation phase. In other words, USD is expected to trade sideways for today, likely between 106.30 and 106.90.” Next 1-3 weeks: “On Wednesday (12 Aug, spot at 106.50), we noted 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.
