USD/JPY is currently trading at 105.55, up 0.18% on the day, recovering from multi-month lows of 105.12 reached on Monday. Terence Wu, an FX strategists at OCBC Bank, expects the pair to experience some consolidation with the target set at the 105.00 mark. Key quotes “A clean break of the 106.00 support suggests that the USD/JPY is likely to remain depressed if it cannot reclaim that level. However, the pair is at the lower end of the tolerance range of the short-term implied valuation. This suggests some consolidation may be at hand.” “For now, the near-term target remains at 105.00/20, while the cap comes in at 106.00/20.” 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 USD/CNH: Room for a move to 6.9645 – UOB FX Street 3 years USD/JPY is currently trading at 105.55, up 0.18% on the day, recovering from multi-month lows of 105.12 reached on Monday. Terence Wu, an FX strategists at OCBC Bank, expects the pair to experience some consolidation with the target set at the 105.00 mark. Key quotes “A clean break of the 106.00 support suggests that the USD/JPY is likely to remain depressed if it cannot reclaim that level. However, the pair is at the lower end of the tolerance range of the short-term implied valuation. This suggests some consolidation may be at hand.” “For now, the near-term target remains at 105.00/20,… 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.
