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Forex: USD/JPY testing the 98.00 barrier

FXstreet.com (Barcelona) - The USD/JPY has moved off its overnight highs of 98.45 Wednesday, gradually surrendering its gains across European trading. Still, the pair remains entrenched in positive territory and is testing the 98.00 barrier in these moments, up +0.53%.

According to Research Analyst Gareth Berry at UBS, “The USD/JPY has a bullish bias intraday, as the uptrend looks to persist and there is scope for a test of resistance at psychological 100.00; a break above would open 101.45, while support is at 95.80.”

“The linear regression indicators are positive confirming the formation of an Inverted Head and Shoulders Pattern. Despite that momentum indicators reflect a negative bias and intraday overbought signals, trading above 98.05 will cancel those pressures. Therefore, the bullish move might extend today.” suggests the ICN.com analyst team.

Forex: USD/CHF trading positively at 0.9233/35

The USD/CHF has successfully rebounded off the 0.9310 level Wednesday during European trading, helped in part by robust Swiss data. After rising nearly 25 pips, the rally seems to have stalled at 0.9233/35 at the time of writing, whereby recording a +0.10% gain on the day.
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European markets fall for the fourth day in a row

The German DAX 30 (-1.38%), the French CAC 40 (-1.07%), the Italian FTSE MIB (-0.76%) and the Spanish IBEX 35 (-1.00%) are edging lower once again this week, the fourth day in a row. Most European equity indexes are joining the mood. Futures for the American S&P 500, Nasdaq 100 and Dow Jones are signaling a lower opening between -0.45% and -0.65% ahead of speeches in the US, by Fed’s Bullard and Rosengren, as well as Treasury Secretary Lew later.
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