22 Jul 2013
Flash: USD/JPY maintains bullish outlook – 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, “With the bull trend intact, focus is on resumption of upside, with resistance at 101.53 ahead of the key resistance at 103.74. Support is at 98.27, suggesting a bullish intraday outlook.”
“As for the GBP/USD, there was strong resistance at 1.5283; which was previously broken Monday – a closing break above this would open 1.5394. Initial support is at 1.5158 ahead of 1.5028.”
Finally, “regarding the USD/CHF, the pair approaches the strong support at 0.9367, which was tested last week. A closing break below this would be negative, exposing 0.9242. Resistance is at 0.9478 ahead of 0.9555.”
Key quotes
Beginning with the USD/JPY, “With the bull trend intact, focus is on resumption of upside, with resistance at 101.53 ahead of the key resistance at 103.74. Support is at 98.27, suggesting a bullish intraday outlook.”
“As for the GBP/USD, there was strong resistance at 1.5283; which was previously broken Monday – a closing break above this would open 1.5394. Initial support is at 1.5158 ahead of 1.5028.”
Finally, “regarding the USD/CHF, the pair approaches the strong support at 0.9367, which was tested last week. A closing break below this would be negative, exposing 0.9242. Resistance is at 0.9478 ahead of 0.9555.”