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5 Aug 2013
Flash: USD/JPY time to buy? – 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, “The pair advanced from the strong support at 96.75. This strength could ultimately approach the resistance at 100.02. A closing break above this would trigger further upside.”
“As for the GBP/USD, a sharp advance was seen on Friday, and the pair faces a strong resistance at 1.5394. A closing break above this would be positive. Key support is at 1.5051.”
Finally, in terms of the USD/CHF, “There is a strong resistance at 0.9428, which is expected to hold the recent upside. Initial support is at 0.9229 ahead of 0.9130.”
Key quotes
Beginning with the USD/JPY, “The pair advanced from the strong support at 96.75. This strength could ultimately approach the resistance at 100.02. A closing break above this would trigger further upside.”
“As for the GBP/USD, a sharp advance was seen on Friday, and the pair faces a strong resistance at 1.5394. A closing break above this would be positive. Key support is at 1.5051.”
Finally, in terms of the USD/CHF, “There is a strong resistance at 0.9428, which is expected to hold the recent upside. Initial support is at 0.9229 ahead of 0.9130.”