20 Aug 2013
Flash: USD/JPY survives brush with 97.05 support – 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 be positive, extending the strength to 99.95 and then 101.53. Support is at 97.05 ahead of 95.81, indicating a neutral outlook.”
Regarding the GBP/USD, “The recent strength suggests there is scope for a test of important resistance at 1.5752 ahead of 1.5879. Support is at 1.5608 ahead of 1.5496, suggesting a bullish outlook”
Finally, in terms of the USD/CHF, “As bearish conditions persist, there is scope for further weakness to break below 0.9175 and expose 0.9130. Resistance is at 0.9288 ahead of 0.9396.”
Key quotes
Beginning with the USD/JPY, “Resistance is at 98.67, a close above this would be positive, extending the strength to 99.95 and then 101.53. Support is at 97.05 ahead of 95.81, indicating a neutral outlook.”
Regarding the GBP/USD, “The recent strength suggests there is scope for a test of important resistance at 1.5752 ahead of 1.5879. Support is at 1.5608 ahead of 1.5496, suggesting a bullish outlook”
Finally, in terms of the USD/CHF, “As bearish conditions persist, there is scope for further weakness to break below 0.9175 and expose 0.9130. Resistance is at 0.9288 ahead of 0.9396.”