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21 May 2013
USD/JPY eases off highs to 102.63/71
FXstreet.com (Barcelona) - The USD/JPY upside was capped at the 102.86 region (session high) earlier today during European trading, before easing back towards 102.63/71 in these moments.
At this juncture the cross is still entrenched in positive territory, up +0.40% Tuesday. “With the broader bull trend in place, the next major resistance focus is at 105.60. Meanwhile, support for the USD/JPY is at 101.26, suggesting a bullish intraday view.” notes the UBS Research Team.
According to the ICN.com Analyst Team, “Despite the slight downside bias and negative signals on the stochastic, we find the USD/JPY stable above Linear Regression Indicators indicating the extension of the upside move. Intraday trading above 101.70 keeps the possibility of bullishness valid.”
At this juncture the cross is still entrenched in positive territory, up +0.40% Tuesday. “With the broader bull trend in place, the next major resistance focus is at 105.60. Meanwhile, support for the USD/JPY is at 101.26, suggesting a bullish intraday view.” notes the UBS Research Team.
According to the ICN.com Analyst Team, “Despite the slight downside bias and negative signals on the stochastic, we find the USD/JPY stable above Linear Regression Indicators indicating the extension of the upside move. Intraday trading above 101.70 keeps the possibility of bullishness valid.”