USDCHF and USDJPY: USDJPY in the zone of 156.00 level
USDCHF retreated yesterday to 0.89882 levels to a new weekly low. Tuesday and Wednesday brought us bearish consolidation for USDJPY up to 153.60 levels.USDCHF chart analysis
USDCHF retreated yesterday to 0.89882 levels to a new weekly low. A quick stabilization at that level triggers a bullish consolidation above the 0.90000 level. By the end of the day, the pair recovered significantly to the 0.90650 level, testing that EMA200 moving average. During this morning’s Asian trading session, we managed to move above the EMA200 and 0.90700 levels. This leads to the initiation of a new bullish consolidation up to the 0.90984 level.
We expect this trend to continue; potential higher targets are the 0.91100 and 0.91200 levels. We need a negative consolidation and pullback to the EMA200 and 0.90650 level for a bearish option. In that zone, we also test the weekly open price, and a drop below pushes us to the negative side. Potential lower targets are 0.90500 and 0.90400 levels.
USDJPY chart analysis
Tuesday and Wednesday brought us bearish consolidation for USDJPY up to 153.60 levels. After forming a new weekly low, the pair manages to hold above and initiate a recovery. This pushed us to the 155.50 level, where we tested the EMA200 moving average. During this morning’s Asian trading session, the pair made a new bullish impulse up to the 156.00 level.
Now, we are consolidating in that zone to continue further to the bullish side. Potential higher targets are 156.50 and 157.00 levels. We need a negative consolidation and a drop below the EMA200 and 155.40 for a bearish option. With that step, we are moving to the bearish side, and we can expect a further pullback in search of a new support level. Potential lower targets are 155.00 and 154.00 levels.
The post USDCHF and USDJPY: USDJPY in the zone of 156.00 level appeared first on FinanceBrokerage.
