USDCHF and USDJPY: USDCHF continues above the 0.9100 level

• During the Asian trading session, USDCHF continued the previous bullish consolidation. 
• During the Asian trading session, we saw a USDJPY continuation of the previous bullish consolidation.

USDCHF chart analysis

During the Asian trading session, USDCHF continued the previous bullish consolidation. At the beginning of the EU session, we saw a breakthrough above last week’s high at the 0.90874 level, and after that, the pair continued to grow. A new high was formed at the 0.91056 level and currently had resistance in that zone, and the pair is retreating to the 0.90865 support level. After that, we see a new bullish consolidation and approaching the 0.91000 resistance level.

If we see a breakout above, potential higher targets are 0.91200 and 0.91300. We need a negative consolidation and a drop below the 0.90800 level for a bearish option. Then, we could slowly enter bearish territory, which would lead to further movement to the bearish side. Potential lower targets are 0.90700 and 0.90600 levels.

USDJPY chart analysis

During the Asian trading session, we saw a USDJPY continuation of the previous bullish consolidation. That pushed this pair to a new high at 148.65 level. The yen remains under much pressure, which could continue to push the USDJPY to the next higher levels. Potential higher targets are 148.70 and 148.80 levels.

We need a negative consolidation and pullback below the 148.50 level for a bearish option. The opening price of this week’s session was 148.35, and a break below it would increase the bearish pressure on the dollar. After that, we could expect to see a continuation of the pullback to lower support levels. Potential lower targets are 148.20 and 148.10 levels.