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17 Apr 2013
Forex: USD/JPY bouncing off 97.30
FXstreet.com (Barcelona) - The Japanese yen is giving away some ground vs. the greenback on Wednesday, trading in the vicinity of 97.75/80 after bottoming in the area of 97.30.
“As bullish trend persists, there is scope for a test of resistance at psychological 100.00; a break above would open 101.45. Support is at 95.80”, commented Strategists G.Yu and G.Berry at UBS. It is worth noting that the Swiss lender keeps the bullish outlook on the cross.
At the moment, the pair is up 0.24% at 97.78 and a surpass of 98.20 (MA100h) would expose 98.44 (high Apr.17) and finally 98.65 (MA200h).
On the downside, support levels line up at 96.14 (MA21d) ahead of 95.67 (low Apr.16) and then 95.21 (61.8% of 92.57-99.95).
“As bullish trend persists, there is scope for a test of resistance at psychological 100.00; a break above would open 101.45. Support is at 95.80”, commented Strategists G.Yu and G.Berry at UBS. It is worth noting that the Swiss lender keeps the bullish outlook on the cross.
At the moment, the pair is up 0.24% at 97.78 and a surpass of 98.20 (MA100h) would expose 98.44 (high Apr.17) and finally 98.65 (MA200h).
On the downside, support levels line up at 96.14 (MA21d) ahead of 95.67 (low Apr.16) and then 95.21 (61.8% of 92.57-99.95).