- For the third week in a row, USDCHF is retreating from this morning’s low at 0.89028.
- The USDJPY pair is approaching the 150.00 level.
USDCHF chart analysis
For the third week in a row, USDCHF is retreating from this morning’s low at 0.89028. During the Asian session, the pair tried to start a recovery but stopped at the 0.89400 level. This was followed by bearish momentum and a return to the support zone at the previous low. The dollar remains under pressure, which could lead to a break below and the formation of a new low. The lowest possible targets are the 0.88800 and 0.88600 levels.
We need a new positive consolidation and recovery above the 0.89400 level for a bullish option. So we would have to try to hold there to form a new bottom there. The next bullish impulse would trigger a continuation of the recovery towards the bullish side. The possible highest targets are the 0.89600 and 0.89800 levels. The moving average EMA50 awaits us in the area around the level 0.90000.
USDJPY chart analysis
The USDJPY pair is approaching the 150.00 level. Today’s high is 149.99 and we almost missed it. 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 area around the 149.60 level at 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 there to start a further recovery towards the bullish side from there. The highest potential targets are the 150.20 and 150.40 levels.
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