USDCHF and USDJPY: USDCHF is down to 0.90243 this morning
During this morning’s Asian trading session, USDCHF retreated to a new weekly low at the 0.90243 level. USDJPY retreated yesterday to the 156.37 level, forming a weekly low there.USDCHF chart analysis
During this morning’s Asian trading session, USDCHF retreated to a new weekly low at the 0.90243 level. Yesterday we had a strong bearish consolidation with the 0.91400 level. Today, we see a recovery from this morning’s low to the 0.90620 level. The pair is in momentum and could continue with further recovery to the bullish side. Potential higher targets are 0.90700 and 0.90800 levels.
Additional resistance in the 0.90750 zone is the EMA50 moving average, while the EMA200 is in the 0.9100 zone. We need a negative USDCHF consolidation back to this morning’s support zone for a bearish option. New pressure in that zone could initiate a push below to a new weekly low. Potential lower targets are 0.90200 and 0.90100 levels.
USDJPY chart analysis
USDJPY retreated yesterday to the 156.37 level, forming a weekly low there. After that, the pair stabilized there and initiated a positive consolidation, returning first above the EMA200 moving average. During this morning’s Asian trading session, we saw consolidation above the EMA200 and the initiation of bullish momentum above the 157.00 level. USDJPY is now at 157.30 and is in good momentum to continue further to the bullish side.
Potential higher targets are 157.40 and 157.60 levels. We need a negative consolidation and pullback below the 157.00 level for a bearish option. With that step, we fall below the weekly open price and return to the EMA200 in the 156.80 zone. Potential lower targets are 156.60 and 156.40 levels.
The post USDCHF and USDJPY: USDCHF is down to 0.90243 this morning appeared first on FinanceBrokerage.
