USDCHF and USDJPY: USDCHF is climbing above the 0.90400
During the Asian trading session, USDCHF managed to hold above the 0.90250 level. The beginning of this week for USDJPY was bearish, with the formation of a low at the 149.28 levelUSDCHF chart analysis
During the Asian trading session, USDCHF managed to hold above the 0.90250 level. The pair is continuing the previous bullish consolidation, moving above the 0.90300 level. We are currently close to the 0.90400 level, where we could form a new two-week high.
A break above would indicate that the dollar has the strength to move into further dominance over the Swiss franc. Potential higher targets are 0.90500 and 0.90600 levels.
For a bearish option, we need a negative consolidation and pullback below this morning’s support at the 0.90250 level. This will lead to the formation of this week’s new high, which could initiate the strengthening of bearish pressure and further withdrawal of USDCHF. Potential lower targets are 0.90100 and 0.90000 levels.
USDJPY chart analysis
The beginning of this week for USDJPY was bearish, with the formation of a low at the 149.28 level. We managed to get support at that level and recover to 149.70 level. We need a jump above 149.80 to, more specifically, break out of the bearish embrace.
Additional pressure in that zone creates the EMA50 moving average. With the move above, bearish pressure will decrease, and USDJPY could continue towards the 150.00 level. Potential higher targets are 150.20 and 150.40 levels.
For a bearish option, we need a negative consolidation and pullback below the 149.40 support level. A pullback below would lead to the formation of a new low and confirm the bearish presence on the chart. Potential lower targets are 149.00 and 148.80 levels.
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