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Flash: FX majors face mixed outlooks – UBS

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, with the broader bull trend in place, the next major resistance focus is at 105.60 with support at 101.26. As for the GBP/USD, “There is a strong support at 1.5128. A closing break below this would be a bearish development, as it would confirm MACD settling below its zero line, exposing 1.5034. Resistance is at 1.5322 ahead of 1.5382, suggesting a neutral near-term outlook.”

Finally, regarding the USD/CHF, with bullish trending indicators in place, focus is on resistance at 0.9761, a break above this would open 0.9810 and then 0.9972, while support is at 0.9637 ahead of 0.9578.

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