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12 Sep 2013
Flash: USD/JPY bullishness intact, downside limited – UBS
FXstreet.com (Lisbon) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.
Key quotes
Beginning with the USD/JPY, “Any downside should be limited as bullish conditions persist. Support is at 98.78 ahead of 97.64. Resistance is at 101.53 ahead of 103.74, indicating a bullish outlook.”
Regarding the GBP/USD, “The pair advanced sharply to close above the June high at 1.5750. There is scope for more upside to resistance at 1.5879 and then onto 1.5995. Support is at 1.5686, suggesting a bullish outlook.”
Finally, in terms of the USD/CHF, “Support at 0.9265, a breach of which would trigger a deeper sell-off to 0.9147. Resistance is at 0.9371 ahead of 0.9456.”
Key quotes
Beginning with the USD/JPY, “Any downside should be limited as bullish conditions persist. Support is at 98.78 ahead of 97.64. Resistance is at 101.53 ahead of 103.74, indicating a bullish outlook.”
Regarding the GBP/USD, “The pair advanced sharply to close above the June high at 1.5750. There is scope for more upside to resistance at 1.5879 and then onto 1.5995. Support is at 1.5686, suggesting a bullish outlook.”
Finally, in terms of the USD/CHF, “Support at 0.9265, a breach of which would trigger a deeper sell-off to 0.9147. Resistance is at 0.9371 ahead of 0.9456.”