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Forex Flash: EUR crosses hold neutral bias - UBS

FXstreet.com (Barcelona) - UBS strategist, Gareth Berry and Geoffrey Yu have taken a technical look at today's EUR crosses and note that there is a neutral bias ahead.

Starting with EUR/CHF, they are neutral, commenting that there is significant support at 1.2120 and a break below this would be a major bearish development. They see resistance at 1.2230. They are neutral EUR/GBP too, adding that Resistance is at 0.8602 ahead of 0.8648 and support is at 0.8463 ahead of 0.8410. Finally, EUR/JPY, they are bullish, noting that the cross posted a new recovery high this morning and there is scope for a test of critical resistance at 132.05, with support at 126.76.

Fundamental Morning Wrap: Yen leads the way this morning

This mornings institutional research has seen a primary focus on Japanese developments, with USD/JPY coming within touching distance of the hallowed 100.00 level overnight, posting a high at 99.66. UK data has come under inspection this morning too, with the effects of a weaker Pound being examined, while in the Eurozone, analysts note that the currency has gained support from the search for yield, especially from Japanese investors following the recent BoJ easing statement, and the poor US data which indicates that a QE exit is not on the cards just yet.
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Forex Flash: 100 barrier looks tempting for USD/JPY - OCBC Bank

Emmanuel Ng of OCBC Bank notes that while the 100.00 barrier may look increasingly tempting for USD/JPY in the near term, some room for consolidation after the price action over the last few sessions cannot be ruled out.
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