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12 Aug 2013
Flash: USD/JPY downside risks clear – 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, “With the MACD below its zero line, focus is on further downside, with critical support at 93.57. Resistance is at 97.88 ahead of 99.95.”
“As for the GBP/USD, resistance focus is at 1.5598. A closing break above this would trigger further upside towards 1.5782. Support is at 1.5394.”
Finally, in terms of the USD/CHF, “With the trending and momentum indicators pointing lower, focus in on further downside. There is a strong support at 0.9130. Upside should be limited with a key resistance at 0.9283.”
Key quotes
Beginning with the USD/JPY, “With the MACD below its zero line, focus is on further downside, with critical support at 93.57. Resistance is at 97.88 ahead of 99.95.”
“As for the GBP/USD, resistance focus is at 1.5598. A closing break above this would trigger further upside towards 1.5782. Support is at 1.5394.”
Finally, in terms of the USD/CHF, “With the trending and momentum indicators pointing lower, focus in on further downside. There is a strong support at 0.9130. Upside should be limited with a key resistance at 0.9283.”