Connect with us

Hi, what are you looking for?

Economy

USDCHF slides below 0.88000 and USDJPY falls to 149.00

USDCHF slides below 0.88000 and USDJPY falls to 149.00

The pair USDCHF continues its retreat this week, descending to a new low at the 0.88000 level. After consolidating USDJPY around the 149.50 level for much of last week, we saw a drop below this morning.

USDCHF chart analysis

The pair USDCHF continues its retreat this week, descending to a new low at the 0.88000 level. In these last days of the month, the dollar continues to remain under pressure and on the defensive. Based on that, we expect to see a continuation to the bearish side and the formation of a new low. Potential lower targets are 0.87800 and 0.87600 levels.

For a bullish option, we must first go back above the 0.88400 level and initiate further positive consolidation. In the zone around the 0.88600 level, we encounter additional resistance in the form of the EMA50 moving average. A break above means that we are on track for a further dollar recovery. Potential higher targets are 0.88800 and 0.89000 levels.

USDJPY chart analysis

After consolidating USDJPY around the 149.50 level for much of last week, we saw a drop below this morning. During the Asian trading session, the pair was under pressure in the zone around 149.50 levels. We had additional resistance in the EMA50 moving average, which caused the USDJPY to slide down and form this week’s low at 148.90.

We are now hovering around the 149.00 level and remain under pressure to continue on the bearish side. Potential lower targets are 148.50 and 148.00 levels. We need a positive consolidation and a return above the 149.50 level for a bullish option. We would retest the EMA50 moving average and have to cross it to get rid of the bearish pressure. Potential higher targets are 150.00 and 150.50 levels.

The post USDCHF slides below 0.88000 and USDJPY falls to 149.00 appeared first on FinanceBrokerage.

You May Also Like

Economy

BlockSpan ICO: Accelerating NFT Innovation with Confidence The BlockSpan ICO aims to revolutionize the NFT space. To achieve that goal, it will provide an...

Investing

ZIM Integrated (NYSE: ZIM) stock price has crashed hard after the company canceled its dividend as the shipping industry recoils. The shares plunged to...

Investing

IDS share price has suffered a big reversal in the past few days as demand for the stock drops. Shares of Royal Mail’s parent...

Stock

On this week’s edition of Stock Talk with Joe Rabil, Joe features special guest, Bruce Fraser of Power Charting. Joe and Bruce discuss swing...



Disclaimer: Frequencytraders.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 Frequencytraders.com