- During the Asian session, USDCHF continued the previous bullish consolidation.
- During the Asian session, we saw USDJPY continue the previous bullish consolidation.
USDCHF chart analysis
During the Asian session, USDCHF continued the previous bullish consolidation. At the beginning of the EU session, we saw a break above last week’s high at the 0.90874 level, and after that, the pair continued to rise. A new high was formed at the 0.91056 level and currently had resistance in that area, and the pair is retreating to the 0.90865 support level. After that, we see a new bullish consolidation and we approach the resistance level of 0.91000.
If we see a break above, the highest potential 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, leading to a further move towards the bearish side. The lowest possible targets are the 0.90700 and 0.90600 levels.
USDJPY chart analysis
During the Asian session, we saw USDJPY continue the previous bullish consolidation. That pushed this pair to a new high at the 148.65 level. The yen remains under a lot of pressure, which could continue to push USDJPY to the next higher levels. The highest potential targets are the 148.70 and 148.80 levels.
We need a negative consolidation and a 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. The lowest possible targets are the levels 148.20 and 148.10.
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