USDCHF and USDJPY: USDJPY jumps to 142.00 levels
- During the Asian trading session, USDCHF hovered around the 0.86700 level.
- During the Asian trading session, USDJPY found support at 139.50 and initiated a bullish consolidation.
USDCHF chart analysis
During the Asian trading session, USDCHF hovered around the 0.86700 level. Yesterday, we saw a good jump of this pair from 0.85550 to 0.86845 level. Today’s consolidation is slow, with a small range of movement but a slight bullish movement. Now, we need an impulse that would push the USDCHF to the 0.87000 level.
After that, we need to try to stay up there and start further growth of USDCHF from that level. Potential higher targets are 0.87250 and 0.87500 levels. We need a negative consolidation and pullback to the 0.86000 support level for a bearish option. Falling below it would throw us into the previous channel of movement. This could negatively affect this pair and send it to test the previous low. Potential lower targets are 0.85750 and 0.85500 levels.
USDJPY chart analysis
During the Asian trading session, USDJPY found support at 139.50 and initiated a bullish consolidation. There is additional support at that level in the EMA50 moving average, which strengthens the bullish option. In the EU session, the yen starts to lose strength, and the USDJPY rises to 142.00. Then, we see a smaller pullback to the 141.60 level and get support at that level.
The yen remains under strong pressure, which could push this pair to higher levels. Potential higher targets are 142.50 and 143.00 levels. We need a negative consolidation and pullback below the 141.50 level for a bearish option. After that, we could expect to see continued pullbacks. Potential lower targets are 141.00 and 140.50 levels.
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