USD/JPY could edge higher and re-visit the 108.40 region in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “The rapid decline in USD after touching a high of 108.16 came as a surprise (USD dropped sharply to a low of 107.35). The decline appears to be running ahead of itself and further weakness in USD is unlikely. USD is more likely to consolidate and trade sideways at these lower levels, expected to be between 107.30 and 107.70.” Next 1-3 weeks: “USD moved above the top of our expected 106.40/107.80 range yesterday (high of 107.87). Upward momentum is beginning to improve and USD could strengthen towards 108.40. As the build-up in momentum is still in its nascent stage, it is too early to expect a sustained move towards 108.40. On the downside, a breach of 107.00 (‘strong support’ level) would indicate that the current upward pressure has eased.” 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 Oil: Subdued demand recavoery to limit the uptrend – ANZ FX Street 3 years USD/JPY could edge higher and re-visit the 108.40 region in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “The rapid decline in USD after touching a high of 108.16 came as a surprise (USD dropped sharply to a low of 107.35). The decline appears to be running ahead of itself and further weakness in USD is unlikely. USD is more likely to consolidate and trade sideways at these lower levels, expected to be between 107.30 and 107.70.” Next 1-3 weeks: “USD moved above the top of our expected 106.40/107.80 range yesterday (high of 107.87). Upward… 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.
