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17 Jul 2013
Flash: USD/JPY bullish trend remains intact – 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.
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 is a strong resistance at 1.5283; which should be held on a closing basis. Initial support is at 1.5018 ahead of 1.4814. Finally, regarding the USD/CHF, there is a strong support at 0.9367. A break below this would be negative. On the upside, resistance is at 0.9521 ahead of 0.9609.
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 is a strong resistance at 1.5283; which should be held on a closing basis. Initial support is at 1.5018 ahead of 1.4814. Finally, regarding the USD/CHF, there is a strong support at 0.9367. A break below this would be negative. On the upside, resistance is at 0.9521 ahead of 0.9609.