FXStreet reports that FX Strategists at UOB Group note that further gains in USD/JPY are likely if the 106.00 level is cleared.

24-hour view: “In line with our expectation, USD traded sideways yesterday, between 105.25 and 105.68, narrower than our expected range of 105.25/105.75. The price actions offer no fresh clues and USD could continue to trade in a quiet manner for now, albeit at a slightly lower range of 105.20/105.70.”

Next 1-3 weeks: “There is room for USD to edge higher but any advance is viewed as part of 104.75/105.75 range (narrowed from 104.25/105.75 previously). While a move above 105.75 would not be surprising, USD has to break 106.00 before a sustained advance can be expected.”