USDCHF and USDJPY: USDCHF pulls back to the 0.90000 level
- During the Asian trading session, USDCHF consolidated at the 0.89400 level.
- During the Asian trading session, USDJPY stabilized above the 144.00 level.
USDCHF chart analysis
During the Asian trading session, USDCHF consolidated at the 0.89400 level. After that, we see a bullish impulse that takes us above the EMA50 moving average and above the 0.89600 level. The pair continues to rise, and we are now at the 0.89900 level, on the way to the 0.90000 level. If today’s consolidation continues, USDCHF could soon test last week’s high at the 0.90170 level.
A break above would lead to the formation of a new higher high and thus confirm a potential continuation to the bullish side. Potential higher targets are 0.90200 and 0.90300 levels. We need a negative consolidation and a drop below the 0.89800 level for a bearish option. Then we would test the EMA50 moving average again, and a drop below it could negatively affect the further trend. Potential lower targets are 0.89500 and 0.89400 levels.
USDJPY chart analysis
During the Asian trading session, USDJPY stabilized above the 144.00 level. After that, we see a rise to 144.90, where we have resistance for now. The pair is making a pullback to the 144.65 level, and soon we could look for support at the 144.50 level. With new support at that level, the dollar should start a new bullish impulse and continue the recovery. Potential higher targets are 145.00 and 145.25 levels.
We need a USDJPY pullback to the 144.00 level for a bearish option. Then we need a breakout below to continue further down. Potential lower targets are 143.75 and 143.50 levels. In the zone around 143.50 levels, the decline could be stopped at the EMA50 moving average.
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