USDCHF and USDJPY: USDJPY is back above 135.00
- During the Asian trading session, USDCHF continued its retreat from the 0.89734 level.
- After last week’s retreat to the 133.50 level, the pair continues to recover.
USDCHF chart analysis
During the Asian trading session, USDCHF continued its retreat from the 0.89734 level. The fall stopped at 0.88670, and the pair started a minor recovery. We managed to recover to the 0.89000 level and are now consolidating around that level. We need a break above for further continuation to the bullish side.
Potential higher targets are 0.89200, then 0.89400 level. We need a continuation of negative consolidation and a break below this morning’s support for a bearish option. On top of that, we could expect to see a further pullback. And potential lower targets are 0.88600 and 0.88400 levels.
USDJPY chart analysis
After last week’s retreat to the 133.50 level, the pair continues to recover. At the end of the Asian session, USDJPY gained support at the 134.65 level and began further recovery. We are again above the 135.00 level and could soon test the high from the beginning of the day at the 135.30 level.
A break above would be of great help to us for the further continuation and growth of USDJPY. Potential higher targets are 135.50 and 135.75 levels. We need an inactive consolidation and a drop below the previous support zone for a bearish option. After that, we would probably see further descent and testing of lower levels. Potential lower targets are 134.25 and 134.00 levels.