- The two-week downtrend of USDCHF stopped yesterday at the level of 0.89668.
- The USDJPY pair came close to reaching the 150.00 level this morning, stopping at 149.81.
USDCHF chart analysis
The two-week downtrend of USDCHF stopped yesterday at the level of 0.89668. From that level, we see strong bullish momentum taking the pair up to the 0.90900 level. During the previous Asian session, the pair retreated towards the 0.90600 support level. We managed to find support in that area and now we are again close to the 0.90900 level.
We have also moved above the EMA50 moving average, which could reflect positively in the coming days. The highest possible targets are the 0.91000 and 0.91100 levels. We need negative consolidation and a drop below this morning’s support for a bearish option at 0.90600. This would take us to the bearish side and we could expect to see a continuation lower. The lowest possible targets are the 0.90400 and 0.90200 levels.
USDJPY chart analysis
The USDJPY pair came close to reaching the 150.00 level this morning, stopping at 149.81. During the Asian session, we saw bearish consolidation and a pullback to the 149.58 level. It is very possible that we break below 149.50 or form a lower daily low. We could get some support in the area around 149.30 and stop this pullback. A break below could indicate a continuation of the decline to lower levels. The lowest possible targets are the levels 149.20 and 149.00.
We need positive consolidation and a return to this morning’s resistance zone at 149.80 for a bullish option. A break above would lead to the formation of this week’s new high and we would likely break above the 150.00 level. The highest potential targets are the 150.20 and 150.40 levels.
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