USDCHF and USDJPY: USDJPY is on the verge to break 150.00
- For the third week in a row, USDCHF is retreating from this morning’s low at the 0.89028 level.
- The pair USDJPY is getting closer to the 150.00 level.
USDCHF chart analysis
For the third week in a row, USDCHF is retreating from this morning’s low at the 0.89028 level. During the Asian trading session, the pair tried to start a recovery but stopped at the 0.89400 level. A bearish impulse and a return to the support zone at the previous low followed this. The dollar remains under pressure, which could lead to a breakout below and the formation of a new low. Potential lower targets are 0.88800 and 0.88600 levels.
We need a new positive consolidation and recovery above the 0.89400 level for a bullish option. Then we would have to try to hold on up there in order to form a new bottom there. The next bullish impulse would trigger a continuation of the recovery to the bullish side. Potential higher targets are 0.89600 and 0.89800 levels. The EMA50 moving average is waiting for us in the zone around the 0.90000 level.
USDJPY chart analysis
The pair USDJPY is getting closer to the 150.00 level. Today’s high is 149.99, and we just missed breaking above. We now see a slight pullback to 149.90 and the possible start of a short-term bearish consolidation. The lower levels we should pay attention to are 149.80 and 149.60. The pair could have additional support in the zone around the 149.60 level in the EMA50 moving average.
We need a positive consolidation and a break above the 150.00 resistance level for a bullish option. Then, we would have to hold up there in order to initiate a further recovery to the bullish side from there. Potential higher targets are 150.20 and 150.40 levels.