- On Friday, USDCHF stabilized at the level of 0.85600.
- For the third day in a row, USDJPY has been in bullish consolidation with the formation of a new high at 149.470.
USDCHF chart analysis
On Friday, USDCHF stabilized at the level of 0.85600. During the Asian session this morning, the pair was boosted by bullish consolidation and formed a new daily high at the 0.86000 level. We are supported by the 50 EMA moving average and expect a continuation to the bullish side. In the US session, USDCHF could continue to recover to a new daily high. The possible highest targets are the 0.86050 and 0.86100 levels.
For a bearish option, we need a negative consolidation of USDCHF to the level of 0.85800. There, the pair will test the 50 EMA before continuing the pullback. In the area of 0.85700 we find the weekly opening level. If the bearish momentum strengthens, we will see a drop to the negative side and the formation of a new low. The lowest possible targets are the 0.85650 and 0.86000 levels.
USDJPY chart analysis
For the third day in a row, USDJPY has been in bullish consolidation with the formation of a new high at 149.470. During the Asian session this morning, the pair stabilized at 149.20. In the EU trading session, bullish momentum is growing and USDJPY remains around the 149.40 level. For now everything indicates that we are going up and we expect a break above the 149.50 level. The highest potential targets are the 149.60 and 149.70 levels.
For a bearish option, we need a pullback of USDJPY to the 149.20 support zone. We are close to testing the daily opening level. This time, the pair needs to slide down and form a new daily low. The lowest possible targets are the levels 149.00 and 148.80. We can expect additional support at the 50 EMA around 149.00.
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