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16 Aug 2013
Flash: USD/JPY eyes upside, 98.67 the figure to break – UBS
FXstreet.com (New York) - 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, “Resistance is at 98.67, a close above this would extend the recent strength to 99.95 and then 101.53. Support is at 95.81 ahead of 93.79.
“The strength over the past two days reinforces the bullish theme, opening the way to test the critical resistance at 1.5752. Support is at 1.5496..”
Finally, in terms of the USD/CHF, “Fresh selling pressure materialized after testing the strong resistance at 0.9395. The risk is for a move below support at 0.9175 and test the important support at 0.9130.
Key quotes
Beginning with the USD/JPY, “Resistance is at 98.67, a close above this would extend the recent strength to 99.95 and then 101.53. Support is at 95.81 ahead of 93.79.
“The strength over the past two days reinforces the bullish theme, opening the way to test the critical resistance at 1.5752. Support is at 1.5496..”
Finally, in terms of the USD/CHF, “Fresh selling pressure materialized after testing the strong resistance at 0.9395. The risk is for a move below support at 0.9175 and test the important support at 0.9130.