- During the Asian session this morning, USDCHF finds support at the 0.85750 level.
- Last week, USDJPY rose to 149.13, hitting a new 50-day high.
USDCHF chart analysis
During the Asian session this morning, USDCHF finds support at the 0.85750 level. The pair has returned above the daily opening level and is now on the positive side. We hope to break the 0.86000 level soon and form a new daily high. Bullish momentum is also growing and everything points to further growth. The possible highest targets are the 0.86200 and 0.86400 levels.
For a bearish option, we need a negative consolidation and a pullback of USDCHF below this morning's support zone. With a break below, we are heading for a new daily low. Such an image indicates that the pair does not have the strength to recover and that we are turning to the bearish side. The lowest possible targets are the 0.85600 and 0.85400 levels.
USDJPY chart analysis
Last week, USDJPY rose to 149.13, hitting a new 50-day high. During the Asian session this morning, the pair took a slight step down to reach support at the 148.40 level. It is now putting pressure on this area and we are monitoring the situation to see if it will continue. If it holds and we return above the daily opening level, USDJPY could start a new bullish consolidation. After that, we expect a visit to last week's high and a continuation up to a new high.
The highest potential targets are the 149.00 and 149.50 levels. For a bearish option, we need a negative consolidation and a drop below this morning's support zone. By descending to a new daily low, we confirm the transition to the bearish side. Strengthening bearish momentum would have the effect of pushing USDJPY to a new low. The lowest possible targets are the levels 148.00 and 147.50. Possible support is the 50 EMA in the 147.50 area.
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