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USDCHF and USDJPY: USDCHF in a bullish trend up to 0.88500

USDCHF and USDJPY: USDCHF in a bullish trend up to 0.88500

This week, we saw a bullish consolidation of the USDCHF until this morning at 0.88530.
USDJPY switched to the bullish side after we bounced back above the 147.00 level on Tuesday.

USDCHF chart analysis

This week, we saw a bullish consolidation of the USDCHF until this morning at 0.88530. There, we formed a new weekly high and started a pullback. In the EU session, we fell below the Asian low and formed a daily low at the 0.88300 level. For now, we are holding a little above it, but it remains under bearish pressure that could take us to a new low. Potential lower targets are the 0.88200 and 0.88100 levels.

In the zone around the 0.88200 level, we encounter the EMA50 moving average, and there, we expect a certain resistance to the continuation to the bearish side. For a bullish option, we need a positive consolidation and return of USDCHF above the 0.88400 level. This brings us back to the positive side, and from there, we have a greater chance of starting a new bullish consolidation. Potential higher targets are 0.88500 and 0.88600 levels.

USDJPY chart analysis

USDJPY switched to the bullish side after we bounced back above the 147.00 level on Tuesday. Since then, we have been in a stable, bullish consolidation. Yesterday, we broke above the 148.00 level and continued above the EMA200 moving average. With his support, it is much easier for us, and we saw that in this morning’s Asian session when we rose to the 148.80 level with a bullish impulse.

We are now within reach of the 149.00 level and could reach it soon. Potential higher targets are the 149.10 and 149.20 levels. For a bearish option, we need a negative consolidation and pullback down to the EMA200 and 148.20 levels. A break below reinforces the bearish momentum and pushes us to test today’s support at the 148.00 level. Potential lower targets are the 147.90 and 147.80 levels.

 

The post USDCHF and USDJPY: USDCHF in a bullish trend up to 0.88500 appeared first on FinanceBrokerage.

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