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17 Jun 2013
Flash: USD/JPY could touch significant 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.
Beginning with the USD/JPY, “The weakness since mid–May is approaching the significant support at 93.57. A closing break below this would be further negative opening 90.43 – resistance is at 96.10, indicating a bearish outlook.”
As for the GBP/USD, there is a strong resistance at 1.5789. A closing break above this would be further positive opening 1.5879, while support is at 1.5616. Finally, regarding the USD/CHF, the pair posted a new low on Friday. There is no major support until 0.9022. Upside should be limited with resistance at 0.9309.
Beginning with the USD/JPY, “The weakness since mid–May is approaching the significant support at 93.57. A closing break below this would be further negative opening 90.43 – resistance is at 96.10, indicating a bearish outlook.”
As for the GBP/USD, there is a strong resistance at 1.5789. A closing break above this would be further positive opening 1.5879, while support is at 1.5616. Finally, regarding the USD/CHF, the pair posted a new low on Friday. There is no major support until 0.9022. Upside should be limited with resistance at 0.9309.