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Flash: USD/JPY fortified by support at 97.00 region – UBS

FXstreet.com (New York) – UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today’s majors and outline the technical positions.

Key quotes

Beginning with the USD/JPY, “The potential is for further upside to break through resistance at 99.34, extending to 101.53. Support is at 96.91, indicating a bullish outlook.”

Regarding the GBP/USD, “Having advanced sharply, the pair is correcting and unwinding the sharp advance. There is scope for more weakness to test the strong support at 1.5373. Resistance is at 1.5718, suggesting a neutral outlook”

Finally, in terms of the USD/CHF, “As bearish conditions persist, there is scope for further weakness …read more