USDCHF and USDJPY: New Targets and Prices for the New Week
On Friday, the USDCHF stabilized at the 0.85600 level For the third day in a row, USDJPY has been in bullish consolidation with the formation of a new high at 149,470USDCHF chart analysis
On Friday, the USDCHF stabilized at the 0.85600 level. During this morning’s Asian trading session, the pair was driven by bullish consolidation and formed a new daily high at the 0.86000 level. We have support from the EMA 50 moving average and hope for a continuation to the bullish side. In the US session, USDCHF could continue to recover to a new daily higher high. Potential higher targets are 0.86050 and 0.86100 levels.
For a bearish option, we need a negative USDCHF consolidation down to the 0.85800 level. There, the pair will test the EMA 50 moving average before continuing the pullback. In the 0.85700 zone, we encounter the weekly open level. If the bearish momentum strengthens, we will see a drop below to the negative side and the formation of a new low. Potential lower targets are 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 this morning’s Asian session, the pair stabilized at 149.20. In the EU trading session, bullish momentum is growing, and USDJPY maintains around the 149.40 level. For now, everything indicates that we are going up and expect a break above the 149.50 level. Potential higher targets are 149.60 and 149.70 levels.
For a bearish option, we need a USDJPY pullback down to the 149.20 support zone. We are close to testing the daily open level. This time, the pair needs to slide below and form a new daily low. Potential lower targets are 149.00 and 148.80 levels. We can expect additional support in the EMA 50 moving average around 149.00.
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