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13 Sep 2013
Flash: USD/JPY bullish conditions legitimate – UBS
FXstreet.com (Lisbon) - 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, “Any downside should be limited as bullish conditions persist. Strong support is at 98.27. Resistance is at 101.53 ahead of 103.74, indicating a bullish outlook.”
Regarding the GBP/USD, “Resistance is at 1.5879, a break above which would open 1.6011. Support is at 1.5683 ahead of 1.5586, suggesting a bullish outlook.”
Finally, in terms of the USD/CHF, “Support at 0.9265, a breach of which would trigger a deeper sell-off to 0.9147. Resistance is at 0.9371 ahead of 0.9456, indicating a neutral outlook.”
Key quotes
Beginning with the USD/JPY, “Any downside should be limited as bullish conditions persist. Strong support is at 98.27. Resistance is at 101.53 ahead of 103.74, indicating a bullish outlook.”
Regarding the GBP/USD, “Resistance is at 1.5879, a break above which would open 1.6011. Support is at 1.5683 ahead of 1.5586, suggesting a bullish outlook.”
Finally, in terms of the USD/CHF, “Support at 0.9265, a breach of which would trigger a deeper sell-off to 0.9147. Resistance is at 0.9371 ahead of 0.9456, indicating a neutral outlook.”