Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

USDCHF and USDJPY: USDJPY is holding above the 142.50

USDCHF and USDJPY: USDJPY is holding above the 142.50

During the Asian trading session, USDCHF gained support at the 0.87300 level.
In the first week of August, USDJPY moved in the 142.00-143.90 range.

USDCHF chart analysis

During the Asian trading session, USDCHF gained support at the 0.87300 level. After that, we see a breakout of the Asian consolidation and a new bullish impulse up to the 0.87800 level. It is very possible that we will see a continuation of the recovery and a jump to 0.88000, the previous resistance level.

To continue on the bullish side, we need a break above and a positive consolidation to push USDCHF to higher levels. Potential higher targets are 0.88100 and 0.88200 levels. We need a negative consolidation and a return to this morning’s support zone at the 0.87300 level for a bearish option. Then, we need to make a breakout below and thus confirm the bearish option. Potential lower targets are 0.87200 and 0.87000 levels. Additional support for the dollar could be in the EMA50 moving average at the 0.87200 level.

USDJPY chart analysis

In the first week of August, USDJPY moved in the 142.00-143.90 range. During the Asian trading session, the pair moved in a narrow range of 142.30-142.80. In the first few hours of the EU session, a bullish consolidation on the chart made a breakthrough above 142.80 and moved us up to the 143.00 level.

For the bullish option, we need a continuation of the positive consolidation. Potential higher targets are 143.25 and 143.50 levels. We need a negative consolidation and a pullback of USDJPY to the 142.00 support level for a bearish option. Additional support in that zone is in the EMA50 moving average. A break below shows a possible drop in the dollar and a visit to lower support levels. Potential lower targets are 141.75 and 141.50 levels.

 

The post USDCHF and USDJPY: USDJPY is holding above the 142.50 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com