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 breaks resistance at 150.50

USDCHF and USDJPY: USDJPY breaks resistance at 150.50

During the Asian trading session, USDCHF only managed to climb up to the 0.88225 level. 
On Friday, we saw USDJPY at a new weekly high at the 150.77 level. 

USDCHF chart analysis

During the Asian trading session, USDCHF only managed to climb up to the 0.88225 level. From that place, a bearish consolidation was initiated; the pair fell below the Asian low, increasing the pressure on the dollar. This leads to a drop below the 0.88000 level and the EMA200 moving average. The fact that we are below the moving average that supported us in the previous weeks adds to the pressure.

Potential lower targets are 0.87900 and 0.87800 levels. For a bullish option, we need to see a return of USDCHF above the 0.88000 level. Then, we need to stabilize there in order to try to retest the resistance at 0.88200. With the breakthrough above, we would be significantly relieved of the pressure and could start further recovery. Potential higher targets are 0.88300 and 0.88400 levels.

USDJPY chart analysis

On Friday, we saw USDJPY at a new weekly high at the 150.77 level. They stalled there, and the pair spent the rest of Friday retreating to support at the 150.30 level. After receiving support, we saw a recovery to the 150.50 level. During the Asian trading session, the new flow on the dollar brought us down to test support at the 150.30 level. We remain above again and start a new recovery by breaking the Asian high and forming a new one at the 150.67 level.

Now, it is important for us to stay above the 150.50 level and thus form a bottom from which further growth would start. Potentially higher targets are 150.80 and 150.90 levels. We need a pullback and a new test at 150.30 for a bearish option. A break below the formed daily low confirms the bearish momentum. Potential lower targets are 150.20 and 150.10 levels. Additional support is the EMA200 at 150.10; there, we expect a stop or a slowdown of the bearish option.

 

The post USDCHF and USDJPY: USDJPY breaks resistance at 150.50 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