USDCHF and USDJPY: USDJPY could climb to 152.00 level
- During the Asian trading session, USDCHF hovered around 0.90250 levels.
- This week, we see a continuation of the previous USDJPY bullish consolidation above the 151.50 level.
USDCHF chart analysis
During the Asian trading session, USDCHF hovered around 0.90250 levels. With the start of the EU session, the pair retreated to the 0.90150 level, and now we are testing the support in the EMA50 moving average here. If the pressure on the dollar continues today, the pair could easily break below, and we would see the formation of a new weekly low. Potential lower targets are 0.90100 and 0.90000 levels.
We need a positive consolidation and a move above the 0.90250 level for a bullish option. We also now have support in the EMA50 moving average and could take advantage of that. Then, we would have to hold up there in order to start a further recovery to the bullish side with a new impulse. Potential higher targets are 0.90300 and 0.90400 levels.
USDJPY chart analysis
This week, we see a continuation of the previous USDJPY bullish consolidation above the 151.50 level. During the Asian session, the pair continued the growth that was extended in the EU session, and now we are at the 151.80 level. The Japanese yen remains under pressure, and the dollar skillfully uses it. Potential higher targets are 152.00 and 152.20 levels.
We need a negative consolidation and pullback to the 151.60 level for a bearish option. Then we need a break below, which would take us below last week’s high. Such a move would mean we should see a further pullback and the formation of this week’s new USDJPY low. Potential lower targets are 151.40 and 151.20 levels. The EMa50 moving average is in the zone around 150.80 levels.
