Connect with us

Hi, what are you looking for?

Economy

USDCHF and USDJPY: USDCHF is in a big pullback to 0.89000

USDCHF

USDCHF and USDJPY: USDCHF is in a big pullback to 0.89000

  • Yesterday we saw a big pullback in USDCHF from 0.90550 to 0.8900 level.
  • During the Asian session, USDJPY gains support at the 140.00 level.

USDCHF chart analysis

Yesterday we saw a big pullback in USDCHF from 0.90550 to 0.8900 level. During the Asian session, the pair continued to move around this June low. The pressure on the dollar is still present, which could lead to a continued retreat and the formation of a new lower low. Potential lower targets are 0.88900 and 0.88800 levels. We need a new positive consolidation and a move to the 0.89400 level for a bullish option.

Thus we would have moved from the previous low. Then we need a breakout above and a hold up there. With the next bullish impulse, we would initiate the further recovery of USDCHF. Potential higher targets are 0.89600 and 0.89800 levels.

USDCHF Chart analysis

USDJPY chart analysis

During the Asian session, USDJPY gains support at the 140.00 level. After that, we see a strong bullish impulse and a jump to the 140.80 level. The reason for that jump is the news from the BoJ about the interest rate remaining at -0.10% and the rate remained unchanged compared to previous data.

The graph shows the continuation of growth and the formation of today’s high at the 141.40 level. The pair is now making a minor pullback to potential support at the 141.00 level. If we fail to hold on there, we could slide down and look for support at lower levels. Potential lower targets are 140.80 and 140.60 levels.

USDJPY Chart Analysis

The post USDCHF and USDJPY: USDCHF is in a big pullback to 0.89000 appeared first on FinanceBrokerage.

You May Also Like

Trading Secrets

On this week’s edition of Trading Simplified, Dave continues to show his methodology in action with a new mystery chart. In his “Mind the...

Trading Secrets

Wall Street sold off dramatically on Friday after the jobs report. While the economy is stagnating, many investors are concerned that the Fed will...

Trading Secrets

In this special presentation from StockCharts TV‘s The MEM Edge, Mary Ellen highlights the unique characteristics of a new bull market, along with the...

Investing

Everyone is curious to know how the stock market will react to the debt ceiling deal announcement that happened over the weekend. Republicans and...