19 Nov 2013
Flash: JPY remains bearish against the EUR and USD – UBS
FXstreet.com (Edinburgh) - Strategists at the Swiss lender UBS remarked their bearish outlooks for the Japanese yen mainly vs. the shared currency and the greenback.
Key Quotes
Regarding the EUR/JPY, “the cross is trading within striking distance of the critical resistance at 135.51. A break above which would open the way to 138.49. Near term support is at 133.31”.
On the USD/JPY, they argued, “There is an important retracement support at 99.36. There’s potential for resumption of strength from here, with resistance at 100.61 ahead of 101.53”.
Key Quotes
Regarding the EUR/JPY, “the cross is trading within striking distance of the critical resistance at 135.51. A break above which would open the way to 138.49. Near term support is at 133.31”.
On the USD/JPY, they argued, “There is an important retracement support at 99.36. There’s potential for resumption of strength from here, with resistance at 100.61 ahead of 101.53”.