FXStreet reports that FX Strategists at UOB Group notes that a break above 106.00 could motivate USD/JPY to re-visit the 106.45 level in the next weeks.

24-hour view: “We expected USD to ‘trade sideways between 105.20 and 105.70’ yesterday. USD subsequently traded between 105.33 and 105.73 before closing at 105.64 (+0.14%). Upward momentum is showing sign of improving and the bias for today is for USD to strengthen.”

Next 1-3 weeks: “Our latest narrative was from last Friday (25 Sep, spot at 105.45) wherein USD ‘is in a correction phase but a sustained advance is likely only if there is a clear break of 106.00’. Shorter-term momentum is beginning to improve and from here, if USD were to close above 106.00, it could trigger a stronger recovery to 106.45. The probability for such a scenario is not that high for now but it would improve quickly as long USD does not move below 105.10 within these few days.”