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19 Aug 2013
Flash: USD/JPY break of 98.00 will extend move higher – 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, indicating a neutral outlook.”
Regarding the GBP/USD, “The recent strength suggests there is scope for a test of important 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, indicating a neutral outlook.”
Regarding the GBP/USD, “The recent strength suggests there is scope for a test of important 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.”