2 Jul 2013
Flash: USD/JPY targets 103.74 – 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 pair thrust above strong resistance at 99.94. A closing break above this would be positive, opening 103.74 – support is at 99.18 ahead of 96.82, suggesting a neutral intraday outlook.”
As for the GBP/USD, the weakness is held by the key support at 1.5183, which was tested on Friday. A closing break below this would a strong bearish development, exposing 1.5009. Resistance is at 1.5279 ahead of 1.5390. Finally, regarding the USD/CHF, yesterday the pair again saw the test of critical resistance at 0.9484; a closing break above this would be positive opening 0.9568. Support is at 0.9407 ahead of 0.9361.
Beginning with the USD/JPY, “The pair thrust above strong resistance at 99.94. A closing break above this would be positive, opening 103.74 – support is at 99.18 ahead of 96.82, suggesting a neutral intraday outlook.”
As for the GBP/USD, the weakness is held by the key support at 1.5183, which was tested on Friday. A closing break below this would a strong bearish development, exposing 1.5009. Resistance is at 1.5279 ahead of 1.5390. Finally, regarding the USD/CHF, yesterday the pair again saw the test of critical resistance at 0.9484; a closing break above this would be positive opening 0.9568. Support is at 0.9407 ahead of 0.9361.