USDCHF and USDJPY: USDCHF continues the bullish trend
During this morning’s Asian trading session, the previous bullish consolidation of USDCHF continued. During this morning’s Asian session, USDJPY was in a bullish consolidationUSDCHF chart analysis
During this morning’s Asian trading session, the previous bullish consolidation of USDCHF continued. A new seven-day high was formed at the 0.86938 level. This morning, the pair was supported by the EMA 200 moving average, which had a positive effect on the rest of the day. We are now at 0.86800 and believe we will see further recovery by the end of the day. Potential higher targets are the 0.87000 and 0.87200 levels.
For a bearish option, it’s crucial for USDCHF to move back below the 200 EMA and 0.86500 level. These steps are key indicators as they signal a move below the weekly open price and confirm that the pair is under pressure. After that, we will see a further pullback and the formation of a new weekly low. Potential lower targets are 0.86400 and 0.86200 levels.
USDJPY chart analysis
During this morning’s Asian session, USDJPY was in a bullish consolidation. Now, in the EU session, we are looking at the continuation and formation of the daily high at 147.50. This consolidation looks stable, and we believe we will see further advances to the bullish side. Potential higher targets are the 148.00 and 148.50 levels.
Additional resistance could be represented by the EMA 200 moving average in the zone of 148.00 levels. We need a negative USDJPY consolidation back to the weekly open price for a bearish option. With the impulse below, we go to the negative side and form a new weekly low. This confirms the bearish pressure on the pair, which could continue. Potential lower targets are 146.00 and 145.50 levels.
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