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Forex: USD/CHF jumps to fresh 9-month highs above 0.96

FXstreet.com (Barcelona) - USD/CHF is currently at 0.9653, off fresh 9-month highs at 0.9677, printed by the NY close on the back of broad USD demand. EUR/CHF breaking above the 1.25 level posting a fresh almost 4-month highs at 1.2506 has added to Swiss Franc weakness. The pair is up +0.86% for the week so far, while adding +5.42% gains since year started.

“USD/CHF is the lead pair of the moment and important technical resistance at .9550 has been well and truly breached,” FXWW founder Sean Lee points out, adding: “The obvious technical target is a daily high just below 1.00 and support should be firm now between .9500/50. I don’t believe that many players are on this move yet which should allow it to pick up bullish momentum quite quickly,” he suggests.

Immediate resistance to the upside for USD/CHF shows at recent fresh 9-month highs 0.9677, followed by July 27 lows at 0.9691, and July 17 lows at 0.9743. To the downside, closest support lies at Friday's highs 0.9629, followed by Monday's highs at 0.9597, and Monday's lows at 0.9545.

Forex: USD/JPY stalls below 102.50

USD/JPY is last at 102.17, near session lows, off recent fresh 4.5-year highs at 102.48, highest since Oct 2008, printed by NY close on broad USD demand. There seems to be an option protection barrier at the 102.50 handle, FXBriefs reports: “I am told there is fix related demand today for USD/JPY at the Tokyo fix (00:55 GMT),” notes editor Peter Fell, adding: “Stops are placed above the 102.50 barrier, sell orders between 102.75/90 and buy orders are seen between 101.70/80.”
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Forex: EUR/JPY closes higher for 5th day in a row

The EUR/JPY closed the day up 15 pips to finish at 132.25. At one point the pair traded as high as 132.76 (highest level since Jan 2010) but was unable to maintain a firm bid at these levels and leaked lower later in the US Session. The German ZEW Index was released earlier in the day, coming in at 36.4 actual vs. 38.3 forecast. It will be another busy day of economic data out of Europe with EUR GDP figures due out at 9:00GMT.
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