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Forex Flash: Majors technically mixed - UBS

FXstreet.com (Barcelona) - UBS strategist, Gareth Berry and Geoffrey Yu have taken a technical look at today´s majors and note that there is a mixed outlook ahead.

Starting with EUR/USD, they are bearish and note that upside should be limited, with strong resistance about at 1.3115. They feel that while this holds, there is scope for a break below support at 1.2962, exposing 1.2869. Moving to USD/JPY, they are bullish, commenting that the pair has extended its strength, posting new recovery highs and is approaching resistance at 99.875 ahead of 101.45. They see support at 97.57. Moving to GBP/USD, they are neutral, noting that resistance is at 1.5363 ahead of 1.5424 and while this holds, there is scope for resumption of broader bear trend. They see support at 1.5200 ahead of 1.5034. Finally, they move focus to USD/CHF and are neutral, writing, “Critical support is at 0.9230, a break below would expose 0.9150. Resistance is at 0.9375 ahead of 0.9434.”

Forex: USD/JPY falls towards 92.82/84

The meteoric climb of the USD/JPY was finally slowed overnight, topping out at 99.68 after a notable run. Since then however, the pair has pulled back during European trading, perhaps signaling a pause to a rally that until earlier seemed virtually unstoppable. At the time of writing, the cross is trading at 92.82/84, down -0.55% from its opening.
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Forex Flash: JPY remains in focus - OCBC Bank

Emmanuel Ng of OCBC Bank notes that markets remain fixated on JPY weakness as the BoJ initiated longer term asset purchases, leaving the currency broadly lower across the board, and USD/JPY above 99.
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