USDCHF and USDJPY: USDCHF and support at the 0.88600
- USDCHF retreated to the support zone at 0.88588-0.88600.
- Yesterday’s attempt by the USDJPY to reach the 135.00 level was unsuccessful, and the growth was stopped at the 134.73 level.
USDCHF chart analysis
During the Asian trading session, USDCHF continued the previous bearish consolidation. For now, the pair is gaining support in this zone and making a minor recovery to the 0.88770 level. We need a breakthrough above the 0.88800 level for further continuation to the bullish side. Then it is necessary to maintain up there and with a positive consolidation to start the continuation of the recovery. Potential higher targets are 0.89000 and 0.89100 levels. For a bearish option, we need a break below the support zone, and after that, we could expect to see a continuation of the decline in USDCHF. Potential lower targets are 0.88500 and 0.88400 levels.
USDJPY chart analysis
Yesterday’s attempt by the USDJPY to reach the 135.00 level was unsuccessful, and the growth was stopped at the 134.73 level. After that, we see a pullback to support at the 133.80 level. Then the pair recovers to 134.00, returning above the EMA50 moving average. If we manage to stay above it, we will have the opportunity to continue the recovery and a new attack on the 135.00 level. We need a negative consolidation and a break below this morning’s support at the 133.80 level for a bearish option. Next, we look at the previous low at the 133.60 level. We could see a deeper retreat if we do not get the required support there. Potential lower targets are 133.40 and 133.20 levels.
